RadNet is an American radiology firm. The company operates outpatient diagnostic imaging centers. RadNet is the largest provider of outpatient imaging services in the United States.[1]
RadNet was founded in 1981 as a small imaging center in Los Angeles. The nascent company was concerned with providing billing and administrative services to large medical care providers, with the initial RadNet imaging center being located near Cedars-Sinai Medical Center.[2]
In 1992 the company was bought by Primedex Health Systems, a California-based management company that catered to small medical clinics. In addition, much of Primedex's business was focused around dealing with workers' compensation claims. At the time of Primedex's acquisition of RadNet, the larger company was going through a period of rapid expansion; however, this growth was cut short in 1993 when the State of California implemented statuary changes to the way workers' compensation was managed. The changes made by California forced Primedex to switch its business focus, resulting in more funding being allocated for other services. Many of the company's new initiatives were centered around diagnostic imaging services, which were managed by RadNet. This growth within the greater Primedex conglomerate resulted in RadNet gaining considerable influence. By the end of the 1990s, RadNet had replaced effectively Primedex as the parent company, with many of Primedex's assets being folded into subsidiaries of RadNet.[3][4]
In the early 2000s RadNet began a period of business expansion by acquiring smaller radiology firms and incorporating said firm's practice into RadNet's growing list of assets.[5] The company repurchased its debt in 2005 and in 2006 worked with General Electric to secure a $450 million syndicated loan with which to continue its corporate acquisitions.[6] 2006 also saw RadNet and Primedex split their stock, resulting in RadNet becoming the official parent company and Primedex becoming a subsidiary.[7][2]
RadNet joined the S&P 600 in November 2019, replacing American newspaper provider Gannett Co.[8]
Operationsedit
As of 2020 RadNet has continued to execute its plan for the strategic acquisition of new assets, namely smaller imaging centers.[9][10] The company has also begun to open new outpatient centers to work with existing healthcare networks.[11][12][2] RadNet also moved to acquire DeepHealth, a machine learning firm working to develop radiology artificial intelligence.[13]
^"PRIMEDEX HEALTH SYSTEMS, INC. ANNOUNCES CLOSING OF ACQUISITION OF RADIOLOGIX, INC. | RadNet". www.radnet.com. Retrieved 2018-06-24.
^"EB-5 Funds Stimulate Economic Growth, Creating High Paying Jobs For Murrieta". PRWeb. Retrieved 2018-06-24.
^"Primedex Health Systems Announces One-for-Two Reverse Stock Split and Name Change to RadNet, Inc. | RadNet". www.radnet.com. Retrieved 2018-06-24.
^Feroldi, Brian (2019-11-15). "Why RadNet Is Shooting Higher Today". The Motley Fool. Retrieved 2020-05-22.
^"Turner Imaging Systems Announces Closing of Seed Investment Round". Retrieved 2018-06-24.
^"The 20 Largest Outpatient-imaging Center Chains: Consolidation Continues, Hospital Alignment Takes Root". Radiology Business. Retrieved 2018-06-24.
^"Turner Imaging Systems Announces Closing of Seed Investment Round". Retrieved 2018-06-24.
^"Israel new market for software developer | CBC News". CBC. Retrieved 2018-06-24.
^"RadNet to acquire 'leading' artificial intelligence firm founded by former Siemens CEO". www.radiologybusiness.com. Retrieved 2020-05-22.
March 17, 2024
radnet, american, radiology, firm, company, operates, outpatient, diagnostic, imaging, centers, largest, provider, outpatient, imaging, services, united, states, company, typepublictraded, asnasdaq, rdnts, componentrussell, 2000, componentindustrymedical, care. RadNet is an American radiology firm The company operates outpatient diagnostic imaging centers RadNet is the largest provider of outpatient imaging services in the United States 1 RadNetCompany typePublicTraded asNasdaq RDNTS amp P 600 ComponentRussell 2000 ComponentIndustryMedical careFounded1981 43 years ago 1981 FounderHoward BergerHeadquartersLos Angeles United States U S Area servedUnited StatesKey peopleNorman Hames Stephen ForthuberServicesMedical careImagingNumber of employees7 100SubsidiariesRadNet Management IncWebsiteradnet wbr comHistory editRadNet was founded in 1981 as a small imaging center in Los Angeles The nascent company was concerned with providing billing and administrative services to large medical care providers with the initial RadNet imaging center being located near Cedars Sinai Medical Center 2 In 1992 the company was bought by Primedex Health Systems a California based management company that catered to small medical clinics In addition much of Primedex s business was focused around dealing with workers compensation claims At the time of Primedex s acquisition of RadNet the larger company was going through a period of rapid expansion however this growth was cut short in 1993 when the State of California implemented statuary changes to the way workers compensation was managed The changes made by California forced Primedex to switch its business focus resulting in more funding being allocated for other services Many of the company s new initiatives were centered around diagnostic imaging services which were managed by RadNet This growth within the greater Primedex conglomerate resulted in RadNet gaining considerable influence By the end of the 1990s RadNet had replaced effectively Primedex as the parent company with many of Primedex s assets being folded into subsidiaries of RadNet 3 4 In the early 2000s RadNet began a period of business expansion by acquiring smaller radiology firms and incorporating said firm s practice into RadNet s growing list of assets 5 The company repurchased its debt in 2005 and in 2006 worked with General Electric to secure a 450 million syndicated loan with which to continue its corporate acquisitions 6 2006 also saw RadNet and Primedex split their stock resulting in RadNet becoming the official parent company and Primedex becoming a subsidiary 7 2 RadNet joined the S amp P 600 in November 2019 replacing American newspaper provider Gannett Co 8 Operations editAs of 2020 RadNet has continued to execute its plan for the strategic acquisition of new assets namely smaller imaging centers 9 10 The company has also begun to open new outpatient centers to work with existing healthcare networks 11 12 2 RadNet also moved to acquire DeepHealth a machine learning firm working to develop radiology artificial intelligence 13 References edit RadNet Leading Radiology Forward Outpatient Imaging Centers www radnet com Retrieved 2018 06 24 a b c RadNet Company History Founded by Dr Howard Berger www radnet com Retrieved 2018 06 24 The History of Workers Compensation in California Rand Corporation Monograph reports URL https www rand org pubs monograph reports MR919 mr919 sec2 html Primedex to explore strategic options Diagnostic Imaging www diagnosticimaging com Retrieved 2018 06 24 PRIMEDEX HEALTH SYSTEMS INC ANNOUNCES CLOSING OF ACQUISITION OF RADIOLOGIX INC RadNet www radnet com Retrieved 2018 06 24 EB 5 Funds Stimulate Economic Growth Creating High Paying Jobs For Murrieta PRWeb Retrieved 2018 06 24 Primedex Health Systems Announces One for Two Reverse Stock Split and Name Change to RadNet Inc RadNet www radnet com Retrieved 2018 06 24 Feroldi Brian 2019 11 15 Why RadNet Is Shooting Higher Today The Motley Fool Retrieved 2020 05 22 Turner Imaging Systems Announces Closing of Seed Investment Round Retrieved 2018 06 24 The 20 Largest Outpatient imaging Center Chains Consolidation Continues Hospital Alignment Takes Root Radiology Business Retrieved 2018 06 24 Turner Imaging Systems Announces Closing of Seed Investment Round Retrieved 2018 06 24 Israel new market for software developer CBC News CBC Retrieved 2018 06 24 RadNet to acquire leading artificial intelligence firm founded by former Siemens CEO www radiologybusiness com Retrieved 2020 05 22 Retrieved from https en wikipedia org w index php title RadNet amp oldid 1182224577, wikipedia, wiki, book, books, library,
