Founded in 1980 as a single site, the company expects to generate $205 million in earnings (before interest, taxes, depreciation and amortization) on $1.325 billion in revenue this year.Ībout 25% of RadNet’s centers are held through joint ventures alongside hospital systems, and it expects that number to hit 50% within the next several years. RadNet bills itself as the largest owner and operator of fixed-site imaging centers, with roughly 350 concentrated in California, Maryland, Delaware, New Jersey, New York and Arizona. Nor do we anticipate any would want to, given that the rest of the country is ripe for consolidation and doesn’t have a big corporate competitor like a RadNet who has a lot of access to capital, deep management team and a lot of business acumen.” “We like motivated sellers and because we are the larger player in the vast majority of markets in which we operate, there aren’t other industry consolidators that have come into our markets. We don’t go knocking on any doors,” he added later. “It’s very active right now,” Stolper told attendees at Sidoti & Company’s Fall Small Cap Conference on Sept. The purchases included 10 facilities in New York’s metropolitan area during the first quarter of 2021 and five more across the Empire State, New Jersey and California in Q2. He labeled many of this year’s moves as smaller “tuck-in” acquisitions, where a larger company absorbs the smaller entity into its platform. Publicly traded radiology provider RadNet is seeing a “very active” market for imaging center acquisitions and already completed more than a dozen deals in the first half of 2021.Ĭhief Financial Officer Mark Stolper discussed the Los Angeles-based firm’s M&A activity at a recent virtual investor conference.
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