As part of the transaction, the Rolling Oaks Medical Group has entered into a long-term contract with RadNet, and will continue to provide all radiology services to these two centers as well as to the existing RadNet Westlake/Thousand Oaks facilities on an exclusive basis. The group provides valuable subspecialist capabilities including interventional radiology, dedicated women’s imaging and neuroradiology.
The acquired facilities will add approximately $9 million of revenue to RadNet on an annualized basis. The purchase price consisted of approximately $5.9 million in cash and the assumption of approximately $5.9 million of debt.
Howard Berger, president and CEO of RadNet, said: “The acquisition makes us the leading outpatient imaging provider in the Westlake/Thousand Oaks region, a market that has very attractive patient and payor characteristics.”