by
Brendon Nafziger, DOTmed News Associate Editor | January 05, 2011
Imaging center chain RadNet Inc. said Tuesday it
completed its acquisition of New York teleradiology group Imaging on Call. The deal, announced Dec 22., is estimated to be worth around $8 million.
Los Angeles-based, 198-center RadNet said it would buy Poughkeepsie-based Imaging on call for $5.5 million, plus an additional $2.5 million if it reaches performance milestones next year. RadNet expects the transaction to add $10 million in revenue on a yearly basis.
This is one of several major acquisitions made by RadNet over the past year as it looks to expand its reach and develop new revenue sources. In September, RadNet said it was
buying software maker eRad, in a purchase valued at $10.75 million. RadNet said the acquisition lets it save money on licensing software, but more importantly it can now earn money selling eRad's PACS and workflow systems to the country's 16,000 imaging outfits or departments.
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And in early December, RadNet closed its purchase of Progressive Health LLC, a New Jersey imaging chain Radnet bought in a
mixed cash and stock deal .
