Radnet Stock Price, News & Analysis

RadNet reported a 12% revenue increase to $315.3 million for Q1 2021 compared to Q1 2020. Adjusted EBITDA rose 123.4% to $45.5 million, while diluted net income per share improved to $0.18 from a loss of $(0.33) year-over-year. Procedural volumes grew 8.4% overall, with same-center volume increasing 5%. The company received FDA clearance for its DeepHealth AI mammography software and successfully refinanced its senior credit facilities, anticipating interest savings of up to $6 million. Full-year 2021 guidance was revised upwards for revenue, adjusted EBITDA, and free cash flow.

eRAD, a subsidiary of RadNet (NASDAQ: RDNT), announced the successful deployment of its Radiology Information System (RIS) by Shields Health Care Group across multiple imaging locations in New England. The collaboration enhances operational efficiency and patient experience through features like automated patient communication and digital forms for scheduling. Shields sought a flexible partner to accommodate diverse workflow needs, and the eRAD system aims to improve training for staff, allowing more focus on patient care. This implementation underscores eRAD's adaptability and commitment to advancing imaging services.

RadNet, Inc. (NASDAQ: RDNT) announced a conference call on May 10, 2021, at 7:30 a.m. PT to discuss its Q1 2021 financial results. Investors can join by calling 800-437-2398 (international: 929-477-0577). A web replay will also be available. As a leader in diagnostic imaging, RadNet operates 331 outpatient imaging centers across key markets including California and New York, employing approximately 8,300 staff. The call will provide insights into the company's financial performance and future outlook.

RadNet announced the successful refinancing of its senior secured term loan and revolving credit facilities, totaling $725 million and $195 million, respectively. This refinancing reduces the interest rate margin from 3.75% to 3.25% and extends the maturity date to April 2028 for term loans and April 2026 for revolving credit. The refinancing allows RadNet to reduce borrowing costs, increase operational flexibility, and add $107 million to its balance sheet.

RadNet, Inc. (NASDAQ: RDNT) announced FDA clearance for its AI-driven mammography triage software, Saige-Q. This tool enhances radiologists' efficiency by prioritizing suspicious screening exams, supporting both 2D and 3D mammography. Saige-Q is pivotal for DeepHealth, marking its first FDA-cleared product and aims to improve care efficiency. With nearly 2 million mammography exams performed annually, RadNet plans to deploy the technology to boost accuracy and productivity in radiology, reflecting its commitment to AI in healthcare transformation.

RadNet, Inc. (NASDAQ: RDNT) announced a proposed refinancing of its existing senior secured term loan, amounting to $611 million, and a $195 million revolving credit facility. The plan includes a new seven-year $675 million term loan B facility and a five-year $195 million revolving credit facility. The refinancing aims to lower costs and extend maturities. However, completion is subject to market conditions and negotiations with lenders, with no guarantee of favorable terms. RadNet operates 331 imaging centers across the U.S., employing around 8,300 personnel.

RadNet, a leader in diagnostic imaging services, will present at the Sidoti & Company Spring 2021 Conference on March 24th at 1:00 p.m. Eastern Time. Mark Stolper, Executive Vice President and CFO, will lead the presentation. RadNet operates 331 outpatient imaging centers across key states like California and New York, employing around 8,300 staff. The presentation will be accessible via a webcast on RadNet's website and Sidoti's platform.

RadNet reported a record fourth quarter 2020 with Total Net Revenue of $308.5 million, marking a 2.5% increase from Q4 2019. Adjusted EBITDA reached $50.7 million, up 8.1%. The enhanced revenue was attributed to improved reimbursement from 3D mammography and increased cash collections. Though net income dropped to $6.0 million from $10.4 million in the prior year, adjusted net income rose to $10.2 million. The company anticipates 2021 revenue guidance between $1,250 million and $1,300 million.

RadNet, Inc. (NASDAQ: RDNT) announced a conference call to discuss its fourth quarter 2020 financial results on March 8, 2021, at 7:30 a.m. PT (10:30 a.m. ET). Investors can join by dialing 800-437-2398 or 786-204-3966 for international calls. The call will also be available via a webcast and archived replay. RadNet is the leading provider of diagnostic imaging services in the U.S. with 334 outpatient imaging centers and approximately 8,600 employees. Core markets include California, Maryland, and New York, among others.