Radnet Stock Price, News & Analysis

RadNet (RDNT) reported strong Q3 2024 financial results with record quarterly performance. Total revenue increased 14.7% to $461.1 million, while Adjusted EBITDA grew 27.2% to $73.7 million. Digital Health segment revenue rose 34.3% to $16.4 million, driven by a 75.8% increase in AI revenue. The company reported adjusted diluted EPS of $0.18, up from $0.13 in Q3 2023. Aggregate procedural volumes increased 9.0%, with same-center volumes up 5.5%. Based on strong performance, RadNet revised upward its 2024 guidance for Revenue, Adjusted EBITDA, and Free Cash Flow. The company maintained a strong balance sheet with $748.9 million in cash and a Net Debt to Adjusted EBITDA ratio below 1.0x.

RadNet's DeepHealth announced that ONRAD, a national radiology provider serving over 120 facilities and managing 1.4 million exams annually, will implement DeepHealth OS, a cloud-native operating system for radiology services. The system aims to streamline clinical and operational workflows through AI-powered data integration.

ONRAD will implement various solutions including a streamlined viewer, enhanced technology functionalities, and smart reporting features. DeepHealth OS creates personalized AI-powered workspaces for radiology teams, enabling integrated data access and secure collaboration. The technology is currently used by over 350 customers worldwide and will be formally launched at the RSNA conference in December 2024.

RadNet (NASDAQ: RDNT), a national provider of diagnostic imaging services, has scheduled its third quarter 2024 financial results conference call for Monday, November 11, 2024, at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time). Investors can participate by dialing 844-826-3035 (US) or 412-317-5195 (International). The company will provide simultaneous and archived webcasts of the call, accessible via their website. An archived replay will be available by dialing 844-512-2921 (US) or 412-317-6671 (International) using passcode 10193306.

RadNet, Inc. (NASDAQ: RDNT), a leading provider of diagnostic imaging services, has announced its participation in the Sidoti & Company Small Cap 2024 Virtual Conference. Mark Stolper, Executive Vice President and CFO, will present on Wednesday, September 18th at 4:00 p.m. Eastern Time.

The presentation will be accessible via simultaneous and archived webcasts on the Sidoti platform and RadNet's website. RadNet operates 398 outpatient imaging centers across eight U.S. states and employs over 10,000 people, including affiliated radiologists. The company offers a range of services, including radiology information technology, artificial intelligence solutions, and teleradiology professional services.

RadNet (NASDAQ: RDNT) has appointed Kees Wesdorp as President and CEO of its Digital Health division and a member of the executive management team. Wesdorp, formerly with Philips and Hellman & Friedman, brings extensive experience in radiology software solutions and AI development. He will lead RadNet's digital health products, including eRAD Radiology Information/Image Management Systems and DeepHealth OS, as well as clinical AI solutions in breast, prostate, lung, and neuro imaging.

This appointment signifies RadNet's commitment to strengthening its digital health offerings and accelerating growth in health informatics and AI applications. Wesdorp's expertise is expected to drive innovation in radiology practice, improving efficiency, accuracy, and patient outcomes.

DeepHealth, a RadNet subsidiary, has partnered with HOPPR to advance AI in healthcare. The collaboration aims to commercialize a Medical-Grade Generalized Foundational Model and develop Fine-Tuned models for breast, prostate, and lung cancer detection. This partnership leverages HOPPR's medical-grade infrastructure and DeepHealth's clinical expertise to enhance diagnostic accuracy and workflow efficiency in radiology.

Key points:

• DeepHealth's cloud-native operating system integrates clinical and operational tools
• HOPPR's model enhances medical research and simplifies data collection and training
• The collaboration aims to accelerate AI development in medical imaging
• DeepHealth's technology is used in over 800 clinical sites, performing 15 million exams annually

RadNet, Inc. (NASDAQ: RDNT), a leading provider of outpatient diagnostic imaging services, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. Mark Stolper, Executive Vice President and CFO, will present on Thursday, September 5th, 2024, at 11:30 a.m. Eastern Time at the New York Marriott Marquis.

The presentation will be accessible via simultaneous and archived webcasts, providing investors and interested parties an opportunity to gain insights into RadNet's operations and strategy. This event highlights RadNet's commitment to engaging with the investment community and showcasing its position in the healthcare imaging sector.

RadNet (NASDAQ: RDNT) reported strong Q2 2024 financial results, with record quarterly revenue of $459.7 million, up 13.9% year-over-year, and Adjusted EBITDA of $72.3 million, a 19.7% increase. The Digital Health segment saw significant growth, with revenue up 36.4% to $15.8 million, driven by a 136.6% increase in AI revenue. Same-center procedural volumes increased 6.1% compared to Q2 2023. RadNet revised its 2024 guidance upwards, increasing ranges for Revenue, Adjusted EBITDA, and Free Cash Flow. The company completed a successful refinancing, reducing borrowing costs and strengthening its balance sheet with a cash balance of $741.7 million and a Net Debt to Adjusted EBITDA ratio of 1.1.

RadNet, Inc. (NASDAQ: RDNT), a leading provider of high-quality, cost-effective diagnostic imaging services, has announced its upcoming second quarter 2024 financial results conference call. The call is scheduled for Thursday, August 8, 2024, at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time).

Investors can participate by dialing 844-826-3035 (US) or 412-317-5195 (International). A simultaneous and archived webcast will be available at the provided link. An archived replay can be accessed using the passcode 10191154.