RadNet acquires New York-based Diagnostic Imaging Group for $56.7 million
RadNet, one of the country’s largest operators of outpatient imaging centers, has announced that it acquired Diagnostic Imaging Group (DIG) for approximately $56.7 million and 1.5 million shares of RadNet stock.
According to RadNet’s official statement, the acquisition will give the company approximately $70 million in additional revenue annually.
DIG, founded in 1985, owns and operates a total of 17 imaging centers in the New York City area. The deal gives RadNet a total of 74 facilities surrounding New York City and New Jersey.
“We are delighted to complete this significant transaction,” Howard Berger, MD, RadNet president and CEO, said in a statement. “Since our entry into Manhattan in 2013, we have assembled a network in the New York metropolitan area that is unrivaled. This acquisition considerably increases our presence in Brooklyn and the Bronx, and it marks our entry into Queens and Nassau County.”
Berger also praised DIG’s reputation, calling its employees an “elite group of physicians.”
“We are excited to welcome the physicians, employees and patients of DIG to RadNet,” Berger said.
Back in April, RadNet acquired Manhattan-based New York Radiology Partners. In August, the company expanded its New Jersey Imaging Networks joint venture with Barnabas Health by adding on an additional 11 imaging centers.
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.