RadNet, Inc. SEC Filings

RadNet, Inc. reported that EVP and Chief Financial Officer Mark Stolper acquired an award of 18,228 shares of common stock at a price of $0.00 per share, increasing his directly held stake to 121,943 shares as of the transaction.

According to the footnote, this represents restricted stock units, each equal to one RadNet share. Subject to his continued service, 20% of the RSUs will vest on March 10, 2026, with the remaining 80% vesting in three equal annual installments on March 10, 2027, 2028, and 2029 (or the first business day thereafter if those dates fall on a weekend or holiday). Shares will be delivered to Stolper after vesting upon certain events, including separation from service, death or disability, a change in control of RadNet, or in equal annual installments over five years beginning on January 10, 2028.

RadNet, Inc. reported that Stephen M. Forthuber, its Pres & COO-Eastern Operations, received a grant of 22,045 shares of common stock on March 3, 2026. This award was acquired at a price of $0.00 per share, bringing his directly held common stock to 551,266 shares following the transaction.

RadNet, Inc. reported that Pres and COO-West Operations Norman R. Hames acquired common stock through awards on March 3, 2026. He received 22,045 shares of common stock directly at a stated price of $0.00 per share, bringing his direct holdings to 261,228 shares. An additional 3,100 shares of common stock were acquired indirectly and are held by his spouse, resulting in 22,989 shares held indirectly.

RadNet, Inc. reported that President and CEO Howard G. Berger received a grant of 124,001 shares of Common Stock on March 3, 2026, labeled as a grant, award, or other acquisition with a price of $0.0000 per share. After this award, he directly held 472,413 shares of Common Stock.

The filing also notes an indirect holding of 20,000 shares of Common Stock held "By Spouse", reflected as indirect ownership, without a specified transaction amount on that date.

RadNet, Inc. reported that executive Michael N. Murdock, EVP, Mergers and Acquisitions, received a grant, award, or other acquisition of 6,613 shares of RadNet common stock on March 3, 2026 at a stated price of $0.0000 per share. After this award, he directly owns 46,697 common shares.

RadNet, Inc. reported that executive Alma Gregory Sorensen, who serves as EVP and Chief Science Officer, acquired a grant or award of 16,533 shares of RadNet common stock on March 3, 2026. The transaction was recorded at a price of $0.0000 per share, indicating it was an equity award rather than an open-market purchase.

After this grant, Sorensen directly held a total of 1,181,878 shares of RadNet common stock. The filing classifies the transaction as a direct, non-derivative acquisition.

RadNet, Inc. provides outpatient diagnostic imaging services across the U.S., with 418 centers as of December 31, 2025, making it a large national operator by locations and imaging revenue. The company offers MRI, CT, PET, mammography, ultrasound, X-ray, nuclear medicine and fluoroscopy, mostly through multi‑modality centers that serve patients, referring physicians and payors in nine states.

RadNet also operates a growing Digital Health segment, led by its DeepHealth subsidiary, delivering AI‑enabled radiology software, RIS/PACS and workflow tools. This segment includes acquisitions such as Aidence, Quantib, ICAD and CIMAR, serves over 2,000 customers, and holds 22 FDA clearances and 15 CE marks.

Strategy centers on expanding center networks and joint ventures with hospitals, scaling AI and cloud‑based platforms, improving operating efficiency, and deepening relationships with commercial, capitated and government payors. Key risks include reimbursement pressure from Medicare and managed care, regulatory scrutiny, inflation-driven labor and equipment costs, competition from hospitals and independent operators, and operational disruption from economic conditions, natural disasters and public health events.

RadNet, Inc. reports record 2025 results and raises its outlook for 2026. For the fourth quarter of 2025, revenue rose 14.8% year over year to $547.7 million and Adjusted EBITDA(1) grew 16.9% to $87.7 million, driven by strong volume growth in advanced imaging modalities and efficiency gains in imaging centers.

For full-year 2025, revenue increased 11.5% to $2,040.2 million and Adjusted EBITDA(1) reached $300.2 million, though RadNet recorded a net loss attributable to common stockholders of $18.7 million, or $(0.25) per diluted share, versus net income of $0.04 per share in 2024.

The Digital Health segment delivered 2025 revenue of $92.7 million, up 41.1%, with Annual Recurring Revenue(4) of $75.4 million at December 31, 2025. Management highlights accelerating adoption of AI-powered workflow and clinical tools, aided by acquisitions including Gleamer, and expects Digital Health ARR to approach or exceed $140 million by the end of 2026.

RadNet’s 2026 guidance calls for Imaging Center segment revenue of $2.325–$2.375 billion, Adjusted EBITDA(1) of $335–$348 million and free cash flow(2) of $105–$115 million. Digital Health guidance anticipates 45%–55% revenue growth from 2025 levels, supported by new AI products, additional FDA clearances and ongoing infrastructure investment.

RadNet, Inc. has completed an all-cash acquisition of Paris-based radiology AI company Gleamer SAS for up to €230 million, including about €215 million paid at closing and a contingent €15 million tied to future milestones.

Gleamer, with more than 130 professionals and over 700 customer contracts across 44 countries, will be integrated into RadNet’s DeepHealth digital health segment. Combining Gleamer’s multimodality, FDA-cleared and CE-marked AI tools with DeepHealth’s existing portfolio is described as making DeepHealth the largest provider of radiology clinical AI solutions worldwide.

The companies highlight benefits such as automated exam prioritization, draft reporting, and workflow automation across X-ray, CT, MR, mammography and ultrasound. DeepHealth and Gleamer together anticipate annual recurring revenue approaching or exceeding $140 million by the end of 2026, backed by a broad installed base and high recurring-revenue profile.