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RadNet Inc. (RDNT) Inks a Series of Agreements to Establish Broad-based Radiology Partnership

RadNet Inc., a leading provider of diagnostic imaging services, today announced the completion of a string of agreements in which it will provide an array of radiology services to Pioneers Memorial Healthcare District and related parties in the Imperial Valley region, east of San Diego, Calif.

“We are excited about establishing a broad-based radiology partnership with RadNet, and are confident that RadNet’s expertise and innovative services will allow us to significantly expand the scope of imaging services at the hospital and in the community,” Pioneers CEO Richard Mendoza stated in the press release. “Combining the strengths of the presence and reputation in the community of Pioneers and Imperial Valley Radiology Medical Group with RadNet’s diversified radiology capabilities, we project the result will improve healthcare delivery in the southern Imperial Valley.”

The agreement calls for RadNet and Pioneers to operate in a joint venture involving a 12,000 square foot multi-modality outpatient imaging center. RadNet subsidiaries Imaging On Call and eRAD will provide in-patient and outpatient teleradiology and information technology services both to Pioneers Memorial Hospital and to the newly created joint venture outpatient center.

RadNet and Pioneers are also developing a Breast Disease Management center to include RadNet’s BreastLink oncologic services, including specialized breast imaging, biopsy and interventional radiology capabilities, medical oncology, breast surgery and breast reconstruction.

Also under the agreements, Imaging On Call will provide offsite radiology interpretation services, as well as after-hours teleradiology support to Pioneers Memorial Hospital and to Imperial Valley Radiology Medical Group, allowing Pioneers and the newly created outpatient imaging center to access non-stop sub-specialty radiology services.

Another arm of the arrangement calls for eRAD to install and support a state-of-the-art Picture Archiving and Communication System (PACS) and a Radiology Information System (RIS) in Pioneers Memorial Hospital and in the newly created joint venture outpatient center.

Dr. Howard Berger, president and CEO of RadNet, said the agreements are a smaller part of a wider mission to expand through similar partnerships.

“This is the first of the multi-disciplinary strategy we hoped to pursue when we broadened RadNet’s scope into information technology and teleradiology beginning late last year. We believe that RadNet is uniquely positioned to serve the radiology needs of virtually any hospital, health system or Accountable Care Organization, regardless of whether or not they reside in any of RadNet’s core markets,” Dr. Berger stated in the press release. “Our continuum of services allows our partners to access the solutions they need to solve the many problems that they face today within radiology. We will continue to aggressively pursue with other partners the joint venture model illustrated in this multidimensional approach with Pioneers.”

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