RadNet Inc. (OQ:RDNT)

Business Focus: Medical & Diagnostic Laboratories

Sector:  Healthcare Industry:  Healthcare Facilities & Services
See Regulatory Filings on SEC
Company Contact
Address: 1510 Cotner Ave
LOS ANGELES CA 90025-3303
Tel: N/A
Website: https://www.radnet.com
IR: See website
Key People
Howard G. Berger
Chairman of the Board, President, Chief Executive Officer
Stephen M. Forthuber
President and Chief Operating Officer ' Eastern Operations
Norman R. Hames
President, Chief Operating Officer-Western Operations, Corporate Secretary
Mark D. Stolper
Chief Financial Officer, Executive Vice President
Mital Patel
Executive Vice President - Finance and Analysis
Michael N. Murdock
Executive Vice President, Chief Development Officer
John V. Crues
Vice President, Medical Director, Director
Business Overview
RadNet, Inc. is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. As of December 31, 2016, the Company operated directly or indirectly through joint ventures, 305 centers located in California, Delaware, Florida, Maryland, New Jersey, New York and Rhode Island. Its centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders. Its services include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), nuclear medicine, mammography, ultrasound, diagnostic radiology (X-ray), fluoroscopy and other related procedures. As of December 31, 2016, the Company had in operation 257 MRI systems, 157 CT systems, 47 PET or combination PET/CT systems, 48 nuclear medicine systems, 479 X-ray systems, 279 mammography systems, 551 ultrasound systems and 104 fluoroscopy systems.
Financial Overview
For the nine months ended 30 September 2018, RadNet Inc. revenues increased 5% to $717.9M. Net income decreased 58% to $3.1M. Revenues reflect Provision for bad debts decrease from $35.2M to $0K, Service fee revenue, net of contractual increase of less than 1% to $641.1M. Net income was offset by Building and equipment rental increase of 11% to $65.4M (expense), Gain on sale of imaging centers decrease from $3.1M (income) to $0K.
Employees: 5,356 as of Dec 31, 2017
Reporting Currency: U.S. Dollars
Enterprise value: $1,167M as of Sep 30, 2018
Annual revenue (TTM): $953.49M as of Sep 30, 2018
EBITDA (TTM): $119.08M as of Sep 30, 2018
Net annual income (TTM): $9.33M as of Sep 30, 2018
Free cash flow (TTM): $61.27M as of Sep 30, 2018
Net Debt Last Fiscal Year: $559.11M as of Sep 30, 2018
Shares outstanding: 48,866,485 as of Nov 5, 2018
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization