RadNet Announces Acquisition of ONRAD to Enhance Imaging Services

RadNet, Inc. (NASDAQ: RDNT), a prominent provider of outpatient diagnostic imaging services, has announced a definitive agreement to acquire ONRAD, Inc. ONRAD specializes in teleradiology and in-hospital staffing solutions, supported by over 130 contracted radiologists, catering to hospitals and health systems across multiple care settings.

The acquisition is projected to close in early 2027, contingent upon regulatory approvals and standard closing conditions. ONRAD shareholders are set to receive $350 million in cash along with 5 million shares of RadNet common stock, with adjustments based on customary terms. Additionally, an earnout totaling up to $210 million may be available, linked to achieving target EBITDA for 2027.

This strategic acquisition aims to integrate RadNet’s existing AI-powered technology solutions with ONRAD’s radiology professional services, enhancing workflows and overall patient care across various imaging settings. Dr. Howard Berger, President and CEO of RadNet, expressed that this merger will unify advanced technology and professional services, addressing the challenges faced in the healthcare sector by providing comprehensive imaging solutions.

Upon conclusion of the transaction, ONRAD will become RadNet’s third reportable operating segment, specifically focusing on Radiology Professional Services. This addition will allow RadNet to extend its offerings to a broader range of clinical environments, including hospitals, outpatient facilities, urgent care centers, and physician offices.

The acquisition is anticipated to contribute between $190 million and $200 million in revenue along with an estimated $60 million to $65 million in Adjusted EBITDA in its first operational year. The integration is believed to facilitate better matching of radiology service demand with supply, particularly as imaging demand in the U.S. surpasses the availability of trained radiologists.

RadNet will host a conference call and webcast on October 27, 2026, to discuss further details regarding the transaction. Interested parties can join the call by calling 1-844-744-1280 for U.S. and Canada attendees or 1-412-564-6465 for international participants. A live webcast will also be available through the designated link.

This acquisition positions RadNet not only to expand its market share but to enhance its operational capabilities and services in the field of diagnostic imaging.