The centers that RadNet will acquire include InSight’s centers in Simi Valley, Thousand Oaks, Westlake, Encino, Van Nuys and Valencia. The facilities operate a combination of imaging modalities, including MRI, CT, X-ray, Ultrasound and Mammography. The cash purchase price will be funded by a portion of the recently completed incremental term loan provided by GE Healthcare Financial Services.
Howard Berger, president and CEO of RadNet, said: “Our existing presence in many of these markets positions us to uniquely benefit from consolidation and cost savings available in this transaction. The acquisition further strengthens our leadership in many of these local markets and is consistent with our strategy of market penetration, regional concentration and multimodality services.”