Sector: Healthcare | Industry: Healthcare Facilities & Services |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 1510 Cotner Ave LOS ANGELES CA 90025 |
Tel: | N/A |
Website: | https://www.radnet.com |
IR: | See website |
Key People | ||
Howard G. Berger Chairman of the Board, President, Chief Executive Officer | 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 | 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, General Counsel, Corporate Secretary | Michael M. Murdock Executive Vice President - Mergers and Acquisitions | Christine N. Gordon Senior Vice President of Operations, Northern California, Director |
Business Overview |
RadNet, Inc. is a national provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The Company operates directly or indirectly through joint ventures with hospitals, approximately 351 centers located in Arizona, California, Delaware, Florida, Maryland, New Jersey and New York. The centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders. The Company's 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 Imaging Center segment provides physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders. The Company's Artificial Intelligence segment develops and deploys clinical applications to enhance the interpretation of medical images. |
Financial Overview |
For the nine months ended 30 September 2022, Radnet Inc revenues increased 7% to $1.05B. Net income decreased 59% to $11.6M. Revenues reflect Service fee revenue increase of 6% to $667M, Revenue under capitation arrangements increase of 7% to $379.2M. Net income was offset by Depreciation and amortization increase of 20% to $85.2M (expense), Provider relief funding decrease from $6.3M (income) to $0K. |
Employees: | 6,756 as of Dec 31, 2021 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $1,858M as of Sep 30, 2022 |
Annual revenue (TTM): | $1,379M as of Sep 30, 2022 |
EBITDA (TTM): | $164.11M as of Sep 30, 2022 |
Net annual income (TTM): | $0.06M as of Sep 30, 2022 |
Free cash flow (TTM): | -$11.17M as of Sep 30, 2022 |
Net Debt Last Fiscal Year: | $651.28M as of Sep 30, 2022 |
Shares outstanding: | 57,360,850 as of Nov 4, 2022 |
Index Membership: | S&P 600 Small Cap |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |