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RadNet, Inc. (RDNT) Completes Handful of Acquisitions to Increase Market Reach

RadNet Inc. is a national leader through its high-quality and cost effective fixed-site outpatient diagnostic imaging services. The company recently announced it has completed the acquisition of five imaging centers in Northern New Jersey, as well as a 50 percent stake in a sixth center, from Progressive Health LCC.

Friday’s announcement stems from a previous announcement in the third quarter of 2010, in which RadNet announced it signed an agreement to acquire substantially all of the New Jersey businesses of Progressive Health and related entities.

RadNet will retain two key executive positions of Progressive Health to serve in management roles for RadNet’s New Jersey operations. William Farrell will serve as RadNet’s senior vice president of New Jersey Operations; Robert Farrell will serve as RadNet’s senior vice president and northeast development officer.

“We are very excited to welcome the many outstanding employees of Progressive Health into the RadNet organization. In particular, I am very pleased that Bill and Bob Farrell have assumed key responsibilities within our New Jersey and Northeast operations. We look forward to working with them to continue to build our presence in these regions,” Dr. Howard Berger, president and CEO of RadNet stated in the press release.

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