RadNet, Inc. (RDNT) Completes Handful of Acquisitions to Increase Market Reach

QualityStocks would like to highlight RadNet (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network of 198 owned and operated outpatient imaging centers. With operations in seven states, including California, Maryland, Delaware, New Jersey, New York, Florida, and Kansas, the company considers itself the largest owner and operator of fixed diagnostic imaging centers in the United States.

In the company’s news Friday,

RadNet Inc. announced it has completed the acquisition of five imaging centers in Northern New Jersey, as well as a 50 percent stake in a sixth center, from Progressive Health LCC.

Friday’s announcement stems from a previous announcement in the third quarter of 2010, in which RadNet announced it signed an agreement to acquire substantially all of the New Jersey businesses of Progressive Health and related entities.

RadNet will retain two key executive positions of Progressive Health to serve in management roles for RadNet’s New Jersey operations. William Farrell will serve as RadNet’s senior vice president of New Jersey Operations; Robert Farrell will serve as RadNet’s senior vice president and northeast development officer.

“We are very excited to welcome the many outstanding employees of Progressive Health into the RadNet organization. In particular, I am very pleased that Bill and Bob Farrell have assumed key responsibilities within our New Jersey and Northeast operations. We look forward to working with them to continue to build our presence in these regions,” Dr. Howard Berger, president and CEO of RadNet stated in the press release.

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