RadNet Agrees To Acquire ONRAD For $350M In Cash

RadNet, Inc. (NASDAQ:RDNT) ("RadNet" or the "Company"), a national leader in providing high-quality, cost-effective outpatient diagnostic imaging services and a global developer of digital health solutions, today announced that it has entered into a definitive agreement to acquire ONRAD, Inc. (ONRAD).  ONRAD, through its more than 130 contracted radiologists, is a provider of teleradiology and in-hospital professional radiology staffing services for hospitals, health systems and other diagnostic imaging sites of care.  The transaction is expected to close in early 2027 and is subject to customary regulatory review and closing conditions.  Upon closing, ONRAD shareholders will receive a cash payment of $350 million and 5 million shares of RadNet, Inc. common stock, subject to customary adjustments.  In addition, an earnout of up to $210 million in value will be payable upon achievement of target EBITDA for 2027.  The earnout is payable in cash, RadNet common stock, or a combination thereof, at RadNet’s election.