RadNet to acquire California-based Kern Radiology
RadNet announced Monday, Feb. 11, that it has signed a definitive agreement to acquire Kern Radiology Medical Group, a Bakersfield, California-based outpatient radiology practice that owns five imaging centers.
Kern Radiology has served patients in Bakersfield and Kern County, California, for more than 50 years. The practice has a team of approximately 200 employees and offers MRI, CT, PET/CT, x-ray, ultrasound and other imaging services. In addition to its imaging centers, it also treats patients at three local hospitals: Bakersfield Memorial Hospital, Mercy Southwest Hospital and Mercy Downtown Hospital.
“We are pleased to announce this transaction,” Howard Berger, MD, chairman and CEO of RadNet, said in a prepared statement. “In 2010, we entered the Bakersfield market through the acquisition of Truxtun Radiology Medical Group. Kern Radiology has been the other principal non-hospital-based operator in this market. Over the last eight years, we have become familiar with Kern’s well-respected operating capabilities and clinical talents.”
“The physicians of Kern Radiology Medical Group are excited about this opportunity to partner with RadNet,” Bernard Maristany, MD, president of Kern Radiology, said in the same statement. “Our medical group has gained the trust of patients and referring physicians in Kern County by providing the highest quality radiology services available.”
According to the statement, Kern Radiology is expected to contribute approximately $25 million in annual revenue to RadNet.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.