RadNet Acquires Gleamer, Making RadNet’s DeepHealth the Largest Provider of Radiology Clinical AI Solutions Worldwide

Rhea-AI Summary

RadNet (NASDAQ: RDNT) acquired Paris-based Gleamer for up to €230 million, integrating it into DeepHealth to create the world’s largest provider of radiology clinical AI solutions.

Gleamer brings ~130 staff, >700 customer contracts in 44 countries, four FDA-cleared and six CE-marked devices, and an expected $30M ARR in 2026 after >90% ARR CAGR (2022–2025). Deployment across RadNet aims for cost and productivity gains by Q3 2026, with focus on X-ray (≈25% of RadNet volume).

Positive

• Largest global clinical AI portfolio across MR, CT, X-ray, mammography, ultrasound
• Gleamer ARR ~ $30M expected in 2026 after >90% CAGR (2022–2025)
• Up to €230M all-cash acquisition reflects recurring revenue and strong margins
• Access to 700+ customer contracts across 44 countries expands commercial reach

Negative

• Up to €230M cash purchase may pressure near-term RadNet cash reserves
• Post-closing milestone creates contingent payment uncertainty
• Integration risk of combining product portfolios and global teams

Key Figures

ARR CAGR: exceeding 90% Projected ARR: approximately $30 million Purchase price: up to €230 million +5 more

8 metrics

ARR CAGR exceeding 90% Annual Recurring Revenue growth 2022–2025 for Gleamer

Projected ARR approximately $30 million Gleamer expected ARR in 2026

Purchase price up to €230 million All-cash consideration for Gleamer acquisition, including post-closing milestone

Customer contracts over 700 Gleamer contracts worldwide across 44 countries

Countries served 44 countries Geographic reach of Gleamer’s customer base

Indications supported over 25 Clinical indications supported by Gleamer’s portfolio

FDA-cleared devices four devices Number of Gleamer FDA-cleared AI devices

CE-marked devices six devices Number of Gleamer CE-marked AI devices

Market Reality Check

Price: $69.81 Vol: Volume 1,109,752 is 38% a...

normal vol

$69.81 Last Close

Volume Volume 1,109,752 is 38% above the 20-day average of 804,256, indicating elevated trading interest ahead of/around this announcement. normal

Technical Shares at $69.81 trade 18.67% below the 52-week high of $85.84 but remain above the $68.94 200-day MA.

Peers on Argus

RDNT fell 3.16% while key peers were mixed: GH -1.93%, SHC +0.84%, CRL +3.73%, R...

RDNT fell 3.16% while key peers were mixed: GH -1.93%, SHC +0.84%, CRL +3.73%, RVTY +0.91%, WGS +0.73%. Moves do not indicate a unified sector trend.

Previous Acquisition,AI Reports

3 past events · Latest: Nov 11 (Positive)

Same Type Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Nov 11	CIMAR UK acquisition	Positive	-2.9%	Bought CIMAR UK to expand DeepHealth’s cloud AI imaging footprint in UK and Europe.
Jun 04	See-Mode acquisition	Positive	+2.2%	Acquired See-Mode to add AI ultrasound diagnostics and improve workflow efficiency.
Apr 15	iCAD acquisition	Positive	-4.8%	All-stock deal for iCAD to enhance AI-powered breast cancer screening and diagnosis.

Pattern Detected

AI-focused acquisitions often saw muted or negative initial reactions, with 2 of 3 prior acquisition/AI announcements followed by next-day share price declines.

Recent Company History

Over the past year, RadNet has steadily expanded its AI capabilities via acquisitions. Deals for iCAD, See-Mode Technologies and CIMAR UK, all tagged acquisition,AI, integrated breast, ultrasound and cloud image-management solutions into DeepHealth. Price reactions to these AI acquisitions were mixed, with moves ranging from a +2.24% gain to a -4.82% decline and an average change of about -1.83%. Today’s Gleamer acquisition further builds this AI portfolio, particularly around cloud-first, multimodality radiology workflows.

Historical Comparison

-1.8% avg move · In the past year, three acquisition,AI headlines for RadNet averaged a -1.83% next-day move, so a -3...

acquisition,AI

-1.8%

Average Historical Move acquisition,AI

In the past year, three acquisition,AI headlines for RadNet averaged a -1.83% next-day move, so a -3.16% reaction to the Gleamer deal sat within the historical range of responses.

RadNet has progressed from acquiring iCAD, See-Mode and CIMAR UK to now adding Gleamer, broadening DeepHealth’s AI across breast, ultrasound, cloud image management and multimodality radiology workflows.

Market Pulse Summary

This announcement extends RadNet’s strategy of building DeepHealth into a comprehensive radiology AI...

Analysis

This announcement extends RadNet’s strategy of building DeepHealth into a comprehensive radiology AI platform. Acquiring Gleamer adds a cloud-first, multimodality portfolio with >90% ARR CAGR, expected to reach about $30M ARR in 2026, and more than 700 customer contracts across 44 countries. Prior acquisition,AI deals like iCAD, See-Mode and CIMAR UK saw mixed short-term stock reactions. Investors may watch integration progress, productivity gains in X-ray (about 25% of volume), and updates from the scheduled investor call for confirmation of the strategic and financial impact.

Key Terms

fda-cleared, ce-marked, saas arr, annual recurring revenue, +3 more

7 terms

fda-cleared regulatory

"Its broad multimodality portfolio of FDA-cleared and CE-marked clinical AI..."

FDA-cleared means a medical product—typically a device or diagnostic—has passed a U.S. regulator’s review showing it is substantially similar to an existing approved product and is safe and effective for its intended use. For investors, clearance acts like an official safety stamp that lowers regulatory risk and can speed market access, comparable to getting a trusted roadworthy certificate before selling cars, which can make sales and adoption happen faster.

ce-marked regulatory

"Its broad multimodality portfolio of FDA-cleared and CE-marked clinical AI..."

CE-marked indicates a product meets European Union requirements for safety, performance and legal compliance, allowing it to be sold across the European Economic Area. For investors, a CE mark is like a passport or safety stamp — it reduces regulatory and market-entry risk, can speed sales and adoption across many countries, and signals the maker completed required testing and documentation, which can affect revenue forecasts and valuation.

saas arr financial

"its cloud platform drives a SaaS ARR business model."

SaaS ARR is the annualized amount of predictable subscription revenue a software company expects to collect from its customers for cloud-hosted services. Think of it as the steady yearly rent from users: it strips out one-time fees and short-term spikes to show the baseline, recurring cash flow investors use to judge growth, customer health and the likely future value of the business.

annual recurring revenue financial

"Gleamer achieved an Annual Recurring Revenue (“ARR”) i compound annual growth rate..."

Annual recurring revenue is the predictable amount of money a company expects to earn each year from ongoing customer subscriptions or contracts. It helps businesses understand how much steady income they can count on, much like a subscription service that charges customers every month or year. This figure is important because it shows the company's stability and growth potential.

all-cash transaction financial

"This acquisition is structured as an all-cash transaction, including a post-closing milestone..."

An all-cash transaction is a deal where the full purchase price is paid immediately in cash or cash equivalents, rather than through financing or installment payments. For investors, this type of transaction often indicates a quick, straightforward sale and can signal confidence from the buyer, potentially affecting the value and perception of the involved assets.

generative ai technical

"bring clinical, generative and agentic AI and imaging informatics together..."

Generative AI is a type of computer technology that can create new content, like text, images, or music, on its own. It’s important because it can produce realistic and useful material quickly, which could change how we create art, write stories, or even develop new products. Think of it as a smart robot that can invent and produce things almost like a human.

agentic ai technical

"bring clinical, generative and agentic AI and imaging informatics together..."

Agentic AI refers to computer systems that can make their own decisions and take actions without needing someone to tell them what to do each time. It's like giving a robot a degree of independence to solve problems or achieve goals on its own, which matters because it could change how we work and interact with technology in everyday life.

AI-generated analysis. Not financial advice.

• Based in Paris, France, Gleamer serves over 700 customer contracts worldwide with a broad portfolio of FDA-cleared and CE-marked solutions for musculoskeletal, breast, lung and neurologic applications.
• Gleamer’s leadership in routine imaging, and particularly X-ray, is unparalleled through the breadth and scale of its cloud-first AI solutions.
• DeepHealth, combined with Gleamer’s solutions will provide the industry’s most comprehensive portfolio of native clinical AI solutions and services across all core imaging modalities. 
• Gleamer achieved an Annual Recurring Revenue (“ARR”) ⁱ compound annual growth rate exceeding 90% from 2022 through 2025 and is expected to reach approximately $30 million ARR in 2026.
• The acquisition will augment DeepHealth’s global commercial sales force and add a strong research and development team who have developed, commercialized and delivered solutions to support over 25 clinical indications.
• Deploying Gleamer’s solutions should drive cost efficiencies and improve patient care within RadNet by the third quarter of 2026.

LOS ANGELES and PARIS, March 02, 2026 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT) (“RadNet”), a U.S. leader in outpatient diagnostic imaging services, announced today it has acquired Gleamer SAS (“Gleamer”), a leading radiology AI company based in Paris, France, to be integrated into DeepHealth, RadNet’s wholly owned subsidiary. The acquisition further expands DeepHealth’s AI-powered health informatics solutions and services, making it the largest provider of radiology clinical AI solutions worldwide.ⁱⁱ

With more than 130 professionals, Gleamer is a fast growing, cloud-first, radiology AI company serving more than 700 customer contracts in 44 countries in Europe and beyond. Its broad multimodality portfolio of FDA-cleared and CE-marked clinical AI and workflow solutions for musculoskeletal, breast, lung and neurologic applications is designed to improve quality of care while reducing the radiologist workload. Gleamer’s customers include hospitals, imaging centers and healthcare systems, and its cloud platform drives a SaaS ARR business model.

Dr. Howard Berger, President and CEO of RadNet, commented: “As imaging volumes continue to rise amid an accelerating shortage of radiologists worldwide, reengineering high-volume workflows — particularly routine imaging such as X-ray, ultrasound and mammography — is becoming essential to sustaining access, efficiency and quality of care. For radiologists and providers, the key lies in advancing automated exam prioritization and draft reporting. The acquisition of Gleamer uniquely positions DeepHealth to expand its impact across routine imaging and high-impact acute diagnostic care and accelerate the delivery of automated diagnostics.”

The integration of Gleamer’s portfolio with DeepHealth’s clinical AI suites of solutions for breast, chest, neuro, prostate and thyroid creates a comprehensive portfolio unrivalled by any other radiology AI company. The combined portfolio supports screening, detection, interpretation and follow-up across many of the most prevalent cancer types, as well as neurodegenerative and musculoskeletal conditions, including trauma and chronic conditions. With the inclusion of Gleamer’s products, DeepHealth is now the worldwide leader in clinical AI solutions across MR, CT, X-ray, Mammography and Ultrasound modalities.

“Joining DeepHealth marks an exciting new chapter for our business and team members,” said Christian Allouche, Co-Founder and CEO of Gleamer. “Our team has been driven by a mission to improve patient care and access, and we are proud of the impact we have had on our customers and patients worldwide. By combining our AI capabilities, product portfolio and strong commercial team with that of DeepHealth, we are poised to shape the future of intelligent imaging at scale.”

“We welcome Gleamer’s team and capabilities into DeepHealth,” said Kees Wesdorp, President and CEO of RadNet’s Digital Health Division, DeepHealth. “This acquisition brings together two leaders on strong growth trajectories to create a new standard of AI-powered care. By building on our combined strengths, we are redefining how imaging is delivered, at scale, with intelligence and automation, to advance access and efficiency while improving experiences and outcomes for patients and providers worldwide.”

Gleamer’s capabilities in automated reporting, already deployed in Europe, combined with DeepHealth’s AI and informatics portfolio, bring clinical, generative and agentic AI and imaging informatics together into an integrated offering. With this extensive expertise, DeepHealth is uniquely positioned to enable more standardized interpretation, automated draft reporting and scalable diagnostic pathways.

Additionally, deploying Gleamer’s radiology AI and workflow capabilities across RadNet’s imaging network is expected to create measurable productivity gains, particularly in X-ray, which accounts for almost 25% of RadNet’s imaging volume. RadNet intends to implement an end-to-end AI-enabled workflow that begins with triaging critical findings to accelerate the interpretation of the most urgent cases. The acquisition will also accelerate the introduction of draft reporting capabilities, allowing radiologists to increase reading volumes with greater accuracy and standardization. This approach will enable RadNet to optimize internal resource utilization, resulting in improved operational and cost efficiencies.

This acquisition is structured as an all-cash transaction, including a post-closing milestone, and is valued at a purchase price of up to €230 million. The valuation is reflective of Gleamer’s multi-year high recurring revenue growth, cloud-native gross margins, industry-leading customer retention rates and its wide portfolio, inclusive of four FDA-cleared and six CE-marked devices supporting 25+ indications.

Media Event and European Congress of Radiology Details
RadNet and DeepHealth will hold a dedicated media event on Monday, March 2, at 1 p.m. Eastern Time / 10 a.m. Pacific Time/ 7 p.m. Central European Time, to further expand on this announcement. Journalists are invited to participate using this link - https://edge.media-server.com/mmc/p/4pza4nct/.

DeepHealth will be showcasing its comprehensive integrated portfolio of native solutions and services this week at the European Congress of Radiology (ECR) 2026, taking place in Vienna, between March 4-7, 2026, at Booth #506 in Hall X5.

Investor Call Details
On Thursday, March 5, 2026, investors are invited to join a dedicated conference call and presentation to hear more details about the Gleamer transaction and have the opportunity to ask questions at 7:30 a.m. Pacific Time / 10:30 am. Eastern Time / 4:30 p.m. Central European Time by dialing 1-877-300-8521. International callers can dial 1-412-317-6026. There will also be simultaneous and archived webcasts available at https://viavid.webcasts.com/starthere.jsp?ei=1754074&tp_key=f33cfae0ea [viavid.webcasts.com]. An archived replay of the call will also be available and can be accessed by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 for international callers using the passcode: 10207004

About RadNet, Inc.    
RadNet, Inc. is a leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of owned and/or operated outpatient imaging centers. RadNet’s markets include Arizona, California, Delaware, Florida, Indiana, Maryland, New Jersey, New York and Texas. In addition, RadNet provides radiology information technology and artificial intelligence solutions marketed under the DeepHealth brand, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry. Together with contracted radiologists, and inclusive of full-time and per diem employees and technologists, RadNet has over 11,000 team members. Learn more at radnet.com.

About DeepHealth  
DeepHealth is a wholly owned subsidiary of RadNet, Inc. (NASDAQ: RDNT) and serves as the umbrella brand for RadNet’s Digital Health segment. DeepHealth provides AI-powered health informatics with the aim of empowering breakthroughs in care through imaging. 
DeepHealth leverages advanced AI for operational efficiency and improved clinical outcomes in breast, chest, neuro, prostate and thyroid health. At the heart of DeepHealth’s portfolio is a cloud-first operating system – DeepHealth OS – that unifies data across the clinical and operational workflow and personalizes AI-powered workspaces for everyone in the radiology continuum. Thousands of imaging centers and radiology departments around the world use DeepHealth solutions to enable earlier, more reliable and more efficient disease detection, including in large-scale cancer screening programs. DeepHealth’s human-centered, intuitive technology aims to push the boundaries of what’s possible in healthcare. https://deephealth.com  

About Gleamer 
Founded in 2017, Gleamer considers AI to be a key solution for addressing the sharp rise in demand for medical imaging, stemming from the challenges of an ageing population, the increasing prevalence of chronic diseases and the problems of access to healthcare. The company's suite of AI-powered solutions, across X-ray, mammography, CT and now, MRI, supports radiologists and clinicians in their diagnoses, thereby improving reliability and reducing the time taken to read and process examinations. The relevance and exceptional performance of these solutions have been recognized worldwide thanks to 60 publications in highly regarded peer-reviewed journals. With 30+ million exams analyzed across over 2,250 locations, spanning 44 countries, Gleamer’s solutions are now widely acclaimed within the medical imaging industry. www.Gleamer.ai.

Forward-Looking Statements
This communication contains certain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by words such as: “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “possible,” “predict,” “project,” “seek, “should,” “target,” “will” or “would,” the negative of these words, and similar references to future periods. Examples of forward-looking statements include statements regarding the anticipated benefits of the acquisition, the impact of the acquisition on RadNet’s business and future financial and operating results and prospects and the amount and timing of synergies from the acquisition are based on the current estimates, assumptions and projections of RadNet, and are qualified by the inherent risks and uncertainties surrounding future expectations generally, all of which are subject to change. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, many of which are beyond RadNet’s control.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations and assumptions regarding the future of RadNet’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of RadNet’s control. RadNet’s actual results and financial condition may differ materially from those indicated in the forward-looking statements as a result of various factors. None of RadNet, Gleamer SAS any of their respective directors, executive officers, or advisors, provide any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur, or if any of them do occur, what impact they will have on the business, results of operations or financial condition of RadNet. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on RadNet’s business and the ability to realize the expected benefits of the acquisition. Risks and uncertainties that could cause results to differ from expectations include, but are not limited to: (1) the ability to recognize the anticipated benefits of the acquisition, which may be affected by, among other things, the ability of RadNet or Gleamer SAS to maintain relationships with its vendors, customers, providers and retain its management and key employees, (2) the ability of RadNet to achieve the synergies contemplated by the acquisition or such synergies taking longer to realize than expected, (3) costs related to the acquisition, (4) the ability of RadNet to execute successfully its strategic plans, including the ability to achieve anticipated annual recurring revenue, (5) the ability of RadNet to promptly and effectively integrate Gleamer SAS into its business, (6) the risk of litigation related to the acquisition, (7) the diversion of management’s time and attention from ordinary course business operations to integration matters, and (8) the risk of legislative, regulatory, economic, competitive, and technological changes. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included elsewhere. Additional information concerning risks, uncertainties and assumptions can be found in RadNet’s filings with the Securities and Exchange Commission (the “SEC”), including the risk factors discussed in RadNet’s most recent Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and future filings with the SEC.

Forward-looking statements included herein are made only as of the date hereof and, except as required by applicable law, RadNet does not undertake any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.

RadNet Contacts 
Jane Mazur    
Senior Vice President, Corporate Communications   
+1 585-355-5978    
jane.mazur@radnet.com      

Mark Stolper  
Executive Vice President and Chief Financial Officer  
+1 310-445-2800  

DeepHealth Media Contact   
Andra Axente   
Integrated Communications Leader 
+31614440971   
andra.axente@deephealth.com    

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca9b68a4-4ed1-48de-b059-dc370bc2132d

ⁱ The Company defines Annual Recurring Revenue (ARR) as a key subscription economy metric representing the predictable, normalized annualized value of contracted recurring revenue generated from customers from active customer contracts. ARR includes subscription fees, recurring support fees, and contracted usage charges and excludes one-time, non-recurring fees such as, implementation, hardware sales, professional services, consulting and one-off training. ARR is a non-GAAP measure and does not represent GAAP revenue recognized over time.
ⁱⁱ DeepHealth and Gleamer have a combined installed base of 2,700+ customer contracts across more than 50 countries, a comprehensive portfolio including 26 FDA-cleared and 22 CE-marked devices supporting 75+ indications, and a global footprint with 550+ employees across four continents. DeepHealth with Gleamer together anticipate achieving ARR approaching or exceeding $140 million by the end of 2026. We believe that these metrics make DeepHealth the leader in providing clinical radiology AI solutions worldwide.

FAQ

What did RadNet (RDNT) pay to acquire Gleamer and what is the deal structure?

RadNet agreed to an all-cash acquisition valued at up to €230 million. According to the company, the transaction includes a post-closing milestone tied to performance, reflecting Gleamer’s recurring revenue growth and margins.

How large is Gleamer’s revenue runway and what ARR does Gleamer expect in 2026?

Gleamer is expected to reach approximately $30 million ARR in 2026. According to the company, Gleamer delivered a greater than 90% ARR CAGR from 2022 through 2025, underpinning the valuation.

When will RadNet deploy Gleamer’s AI across its imaging network and which volume is most affected?

RadNet expects to deploy Gleamer’s solutions to drive efficiencies by Q3 2026. According to the company, X-ray—about 25% of RadNet’s imaging volume—is a primary target for productivity gains.

How does the acquisition change DeepHealth’s product and regulatory footprint?

The acquisition expands DeepHealth’s native portfolio to include four FDA-cleared and six CE-marked devices. According to the company, the combined suite now covers >25 clinical indications across multiple modalities.

What commercial scale does Gleamer add to DeepHealth and RadNet’s global reach?

Gleamer brings more than 700 customer contracts in 44 countries, and ~130 professionals. According to the company, this expands DeepHealth’s global commercial sales force and R&D capabilities.