RadNet Enters Indiana with Acquisition of Northwest Radiology
Rhea-AI Summary
RadNet (NASDAQ: RDNT) acquired the outpatient imaging assets of Northwest Radiology Network, adding six multimodality centers in greater Indianapolis and establishing RadNet's entry into Indiana and the Midwest.
The deal preserves contracted services with 18 Northwest radiologists and is projected to add approximately $18 million of annualized revenue.
Positive
- Entry into Indiana with six outpatient imaging centers in greater Indianapolis
- Annualized revenue +$18 million projected from the acquisition
- 18 radiologists to continue providing contracted professional services, ensuring continuity of care
- Access to AI technologies and expanded clinical capabilities for the acquired centers
Negative
- None.
News Market Reaction
On the day this news was published, RDNT declined 1.07%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
RDNT gained 1.1% pre-news while key peers like GH, SHC, CRL, RVTY and WGS also showed positive moves between roughly 1–3%, but no names appeared on the momentum scanner, indicating the move skewed more stock-specific than a strong sector-wide rotation.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 07 | Regional acquisition | Positive | +0.1% | Acquisition of Radiology Regional adding 13 centers and projected $100M revenue. |
| Nov 05 | Tech asset purchase | Positive | -0.5% | Acquisition of Alpha RT assets to expand DeepHealth’s remote imaging capabilities. |
| Jul 17 | AI platform acquisition | Positive | +2.8% | DeepHealth completes acquisition of iCAD to broaden AI breast health portfolio. |
| Apr 10 | Follow-on Houston deal | Positive | -0.9% | Announcement of a second imaging acquisition in the Houston, Texas market. |
| Feb 27 | Houston market entry | Positive | -2.1% | Platform acquisition of Houston Medical Imaging to enter Houston market. |
Acquisition headlines have generally been viewed positively but with mixed immediate price reactions: about two aligned moves and three divergences, showing that deal announcements have not always produced consistent upside in the following day.
Over the past two years, RadNet has repeatedly used acquisitions to expand both its geographic footprint and AI-enabled imaging capabilities. Transactions included the Radiology Regional deal in Southwest Florida (13 centers, projected $100 million revenue), the Alpha RT asset purchase to enhance remote scanning, the iCAD acquisition to deepen breast AI, and platform deals in Houston. Today’s Indiana acquisition continues this pattern of regional scale-up and technology deployment within outpatient imaging networks.
Historical Comparison
In past acquisition announcements, RDNT’s average 1-day move was about 1.26%. Today’s 1.1% pre-news gain sits close to that typical reaction range.
Acquisitions have extended RadNet from Houston to Florida and into AI platforms like iCAD and Alpha RT, reflecting a strategy of pairing geographic expansion with deeper digital and remote imaging capabilities.
Market Pulse Summary
This announcement extends RadNet’s outpatient imaging network into Indiana, adding six multimodality centers and approximately $18 million in projected annualized revenue while retaining 18 radiologists to maintain local relationships. It continues a multi-year pattern of acquisitions that broaden both geography and AI-enabled capabilities. Investors may watch how these added centers affect future revenue growth, operating margins, and integration efficiency alongside existing initiatives highlighted in recent 10-Q disclosures.
AI-generated analysis. Not financial advice.
Purchase of six imaging centers establishes RadNet’s entry into the Midwestern United States
LOS ANGELES, Feb. 03, 2026 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective outpatient diagnostic imaging services and a global developer of digital health solutions, announced today that it has acquired the outpatient imaging assets of Northwest Radiology Network, P.C., marking the company’s entry into Indiana and expanding RadNet’s presence into the Midwestern United States.
The six acquired multimodality outpatient centers are located in the greater Indianapolis area, with a concentration of centers in Carmel — a growing community that was recently named the number one Midwest city, ranked according to livability, by Travel & Leisure magazine. Founded in 1967, Northwest Radiology’s 18 radiologists will continue providing contracted professional services to the six locations, ensuring continuity of care and preserving the strong local community physician relationships on which Northwest Radiology has built its reputation.
"For decades, Northwest Radiology has built remarkable trust and confidence with the Indianapolis physician communities. We are excited to work with the Northwest radiologist team to support and further expand its clinical reach and capabilities. I am confident that our collaborative efforts will result in leading-edge patient care for the greater Indianapolis region," said Steve Forthuber, President and CEO of Eastern Operations for RadNet. "Indianapolis is a flourishing Midwest market, and this acquisition establishes a base from which RadNet can expand its operational scale, AI-powered workflow and clinical technologies to greatly improve population-health across the region. Ultimately, we are striving to shift Indiana’s healthcare from reactive detection toward proactive prevention — detecting diseases earlier with the goal of improving outcomes.”
"This transaction represents an exciting and transformative time for Northwest Radiology," said Dr. Brian Jellison, CEO of Northwest Radiology. "We have been committed to setting the standard for imaging excellence throughout Central Indiana, and working with RadNet allows us to build upon that legacy while expanding our capabilities. While our physician-led model and local relationships will remain unchanged, we will now have access to cutting-edge AI technologies and resources that will enable us to deliver better care for our patients. We are proud to continue serving this community with the same compassion and quality it has come to expect from us."
The acquisition is projected to add approximately
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 12,000 team members. Learn more at radnet.com
About Northwest Radiology Network, P.C.
Northwest Radiology Network, P.C. is a physician-led outpatient diagnostic imaging practice serving the greater Indianapolis metropolitan area. Founded in 1967, the practice has more than five decades of experience providing high-quality, patient-centered imaging services. Northwest Radiology offers a comprehensive range of diagnostic and screening services, including MRI, CT, PET/CT, mammography, ultrasound, nuclear medicine, interventional radiology and diagnostic X-ray. The practice is committed to clinical excellence and collaboration with referring providers to deliver timely, accurate diagnostic care in a convenient outpatient setting.
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’s or Northwest Radiology’s 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 Northwest Radiology to maintain relationships with its vendors, customers and 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, (5) the ability of RadNet to promptly and effectively integrate Northwest Radiology 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.
Media Contacts
Jane Mazur
Senior Vice President, Corporate Communications
RadNet
+1 585-355-5978
jane.mazur@radnet.com
Mark Stolper
Executive Vice President and Chief Financial Officer
RadNet
+1 310-445-2800
FAQ
What assets did RadNet (RDNT) acquire in Indiana on February 3, 2026?
How much revenue will the Northwest Radiology acquisition add to RadNet (RDNT)?
Will Northwest Radiology physicians continue working with the acquired centers under RadNet (RDNT)?
What strategic benefits does the Indiana acquisition provide RadNet (RDNT)?
