The center, which performs MRI, CT, Bone Density, X-ray, Fluoroscopy and other specialized procedures, is located in a highly specialized medical complex called the Neuroscience and Surgery Institute of Delaware.
The acquisition is said to complement RadNet’s recent purchase of the Papastavros Associates Imaging centers completed in March, 2008. In conjunction with the NeuroSciences Imaging Center transaction, Alexander Mark has joined Papastavros as medical director for the NeuroSciences center, and will provide professional radiology services to the imaging facility.
The acquired facility is expected to add approximately $4 million of revenue to RadNet on an annualized basis. The purchase price consisted of $4.5 million in cash.
Howard Berger, president and CEO of RadNet, said: “We believe that this facility is home to more neurologists and neurosurgeons than any other facility in the State of Delaware. Effectively servicing this strong referral base and other local physicians will be a priority focus of our Delaware operations team.”