RadNet is identified as the largest owner and operator of fixed-site imaging centers, with approximately 350 concentrates in California, Maryland, Delaware, New Jersey, New York and Arizona. Founded in 1980 as a one-stop shop, the company expects to generate $ 205 million in profit (before interest, taxes, depreciation, and amortization) on $ 1.325 billion in revenue this year.
About 25% of RadNet’s centers are owned through joint ventures with hospital systems, and he expects that number to grow to 50% in the next few years. Just recently, the company connected with Dignity Health and acquired eight centers, marking its first foray into Arizona where it plans to grow “aggressively” in the coming years, Stolper said. RadNet now has 20 joint ventures and two thirds of them are âunconsolidatedâ (RadNet owns 35% to 50%) while the remaining third is consolidated (50% to 94%). Other partners include MemorialCare in California (34 centers), RWJ Barnabas in New Jersey (27) and Cedars Sinai in the Los Angeles area (5).
âHospitals recognize that they are losing business to ambulatory actors,â Stolper said. âMany entrepreneurial and forward-thinking hospitals are looking to partner with us so they can participate in this trend. ”