Radnet Stock Price, News & Analysis

Delaware Imaging Network, part of RadNet (NASDAQ: RDNT), has launched the Enhanced Breast Cancer Detection (EBCD) service to improve mammography accuracy. This new service uses advanced AI technologies, including Saige-Dx™, to assist in breast cancer screenings. Key features include AI-driven reviews, comprehensive risk assessments, and a dedicated support line. This initiative aims to empower women with better health information and potentially improve patient outcomes. Dr. Berger emphasized EBCD as a significant advancement in patient care, positioning RadNet at the forefront of radiology innovation.

RadNet, Inc. (NASDAQ: RDNT) announced a partnership between its AI subsidiary Aidence and Google Health to license AI technology for lung nodule malignancy prediction. This collaboration aims to enhance early lung cancer diagnosis and minimize unnecessary procedures. Lung cancer screenings with low-dose CT significantly reduce mortality rates. Aidence's deep learning model will be developed and validated with Google Health's expertise, although no regulatory applications or sales orders have been initiated yet. The partnership focuses on improving clinical workflows and deployment of AI in diagnostics.

RadNet, Inc. (NASDAQ: RDNT) will have its Executive Vice President and Chief Financial Officer, Mark Stolper, present at the BofA Securities 2022 Leveraged Finance Conference on November 29, 2022, at 11:50 a.m. PT. The presentation will take place in Boca Raton, FL. Interested parties can access live and archived webcasts through BofA's website and RadNet's official site under the “About RadNet” section.

RadNet, NASDAQ: RDNT, reported a 5.2% revenue increase to $350 million in Q3 2022, driven by its Imaging Centers segment, which grew 5.1% to $349.1 million. However, Adjusted EBITDA fell 8.5% to $50.2 million, primarily due to rising costs and labor shortages. Net Income dropped to $668,000 with diluted earnings per share at $0.01. The company revised its full-year guidance downward, citing ongoing cost challenges. Future growth strategies include operational expansions and acquisitions to enhance service capacity.

RadNet, Inc. (NASDAQ: RDNT) has acquired a 75% interest in London-based Heart & Lung Imaging Limited, enhancing its capacity in lung cancer diagnostics. HLH operates a network of over 70 radiologists and is a leader in NHS England's Targeted Lung Health Check (TLHC) program, which aims to screen one million lung cancer patients by 2026. This acquisition leverages RadNet’s AI technology to improve diagnostic accuracy and reduce mortality rates in lung cancer. CEO Dr. Howard Berger emphasized the strategic importance of early detection in improving patient outcomes and reducing healthcare costs.

RadNet, Inc. (NASDAQ: RDNT) announced the hosting of a conference call on November 9, 2022, at 7:30 a.m. PT (10:30 a.m. ET) to discuss its third quarter 2022 financial results. Investors can join by calling 800-239-9838 (domestic) or 929-477-0448 (international). The call will also be available via archived webcast. RadNet, recognized as a leader in diagnostic imaging services, operates 353 outpatient imaging centers across multiple states and employs approximately 9,000 people.

RadNet, Inc. (NASDAQ: RDNT) announced its joint venture, New Jersey Imaging Network (NJIN), has acquired the outpatient radiology assets of Montclair Radiology, enhancing NJIN's presence in northern New Jersey. Montclair Radiology operates six imaging centers and serves a patient population of 16 million, performing over 200,000 procedures annually. The acquisition is expected to add over $40 million in annual revenue to NJIN, supporting RadNet's mission to provide high-quality, cost-effective imaging services, while also benefitting Montclair Radiology's established reputation in the community.

RadNet reported a 6.1% increase in revenue for Q2 2022, totaling $354.4 million, compared to $333.9 million in Q2 2021. Revenue from the Imaging Centers segment rose by 5.7% to $352.8 million. Adjusted EBITDA, excluding AI losses, was $55.5 million, a 3.2% decrease year-over-year. The company reaffirmed its 2022 guidance, maintaining revenue expectations between $1.36 billion to $1.41 billion. Despite inflation and Medicare reimbursement cuts, RadNet remains optimistic about future growth from new centers and joint ventures.

RadNet, Inc. (NASDAQ: RDNT) announced it will host a conference call on August 9, 2022, at 7:30 a.m. PT to discuss its second-quarter 2022 financial results. Investors can participate by calling 800-458-4148 or 929-477-0324 for international access. The event will also feature archived webcasts. RadNet is a leading provider of diagnostic imaging services in the U.S., operating 351 outpatient imaging centers, and employing approximately 9,000 personnel across multiple states.