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
Tel: N/A
Website: https://www.radnet.com
IR: See website
Key People
Howard G. Berger
Chairman of the Board, President, Chief Executive Officer
Michael M. Murdock
Executive Vice President - Mergers and Acquisitions
Mark D. Stolper
Chief Financial Officer, Executive Vice President
Stephen M. Forthuber
President, Chief Operating Officer- Eastern Operations
Norman R. Hames
President, Chief Operating Officer - Western Operations
Sham Sokka
Chief Operating Officer, Chief Technology Officer- Digital Health
Mital Patel
Executive Vice President - Financial Planning and Analysis, Chief Administrative Officer
Ranjan Jayanathan
Executive Vice President, Chief Information Officer
David Jeffrey Katz
Executive Vice President, Chief Legal Officer, Corporate Secretary
Gregory Sorensen
Executive Vice President, Director and Chief Science Officer
Business Overview
RadNet, Inc. is a national provider of fixed-site diagnostic imaging services and related information technology solutions (including artificial intelligence) in the United States. It has a network of 366 owned and/or operated outpatient imaging centers. The Company's Imaging Center segment provides 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. The Company's Artificial Intelligence (AI) segment develops and deploys clinical applications to enhance interpretation of medical images and improve patient outcomes with an emphasis on brain, breast, prostate and pulmonary diagnostics. The Company, through its joint ventured Arizona Diagnostic Radiology Group, LLC, owns seven outpatient imaging centers.
Financial Overview
For the fiscal year ended 31 December 2023, Radnet Inc revenues increased 13% to $1.62B. Net income decreased 71% to $3M. Revenues reflect Artificial intelligence segment increase from $4.4M to $12.5M. Basic Earnings per Share excluding Extraordinary Items decreased from $0.19 to $0.05.
Employees: 7,872 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $4,061M as of Dec 31, 2023
Annual revenue (TTM): $1,617M as of Dec 31, 2023
EBITDA (TTM): $225.56M as of Dec 31, 2023
Net annual income (TTM): $3.04M as of Dec 31, 2023
Free cash flow (TTM): $44.26M as of Dec 31, 2023
Net Debt Last Fiscal Year: $487.47M as of Dec 31, 2023
Shares outstanding: 73,188,818 as of Mar 12, 2024
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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