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
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

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