Last $4.82 USD
Change Today -0.07 / -1.43%
Volume 865.9K
RDNT On Other Exchanges
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As of 8:10 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

radnet inc (RDNT) Snapshot

Open
$4.86
Previous Close
$4.89
Day High
$5.15
Day Low
$4.74
52 Week High
04/23/14 - $5.15
52 Week Low
01/13/14 - $1.50
Market Cap
198.1M
Average Volume 10 Days
726.9K
EPS TTM
$0.06
Shares Outstanding
41.1M
EX-Date
--
P/E TM
80.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for RADNET INC (RDNT)

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radnet inc (RDNT) Details

RadNet, Inc. provides outpatient diagnostic imaging services in the United States. The company offers various imaging services, including magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology (X-ray), fluoroscopy, and other related procedures. It also provides teleradiology services for remote interpretation of images on behalf of radiology groups, hospitals, and imaging center customers. In addition, the company develops and sells computerized systems for the imaging industry, including picture archiving communications and radiology information systems, and related workflow solutions for hospitals, teleradiology businesses, imaging centers, and specialty physician groups to distribute, visualize, store, and retrieve digital images taken from various diagnostic imaging modalities. As of April 9, 2014, it operated a network of 250 owned and/or operated outpatient imaging centers primarily in California, Maryland, Delaware, New Jersey, New York, and Rhode Island. The company was founded in 1985 and is headquartered in Los Angeles, California.

4,249 Employees
Last Reported Date: 03/17/14
Founded in 1985

radnet inc (RDNT) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $1.1M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $593.8K
Chief Operating Officer, Executive Vice Presi...
Total Annual Compensation: $593.8K
Executive Vice President and General Counsel
Total Annual Compensation: $656.3K
Executive Vice President and Chief Operating ...
Total Annual Compensation: $593.8K
Compensation as of Fiscal Year 2012.

radnet inc (RDNT) Key Developments

RadNet and Kennedy Health System Announce Multi-Faceted Agreement for Radiology Services in Southern New Jersey

RadNet, Inc. and the Kennedy Health System announced a multi-faceted agreement to provide radiology services throughout southern New Jersey. The agreement, which goes into effect May 1, will achieve several objectives. RadNet, through its Imaging On Call subsidiary, will provide professional radiology services at Kennedy's three hospitals (in Cherry Hill, Stratford and Washington Township, NJ), as well as at its Outpatient Medical Imaging Center in Washington Township, NJ. These professional radiology services will include 24 hour-a-day, seven-days-a-week radiology coverage, both on-site and off-site via teleradiology services. In addition, a joint venture will be established to create a medical imaging network to provide services to the communities of southern New Jersey. This network will include Kennedy's outpatient imaging locations, RadNet's Haddon Heights imaging facility, and future acquisitions, along with the development of new southern New Jersey imaging facilities. The joint venture will contract on behalf of its imaging network with regional payors, including commercial insurance companies, utilization and radiology benefit managers, workers' compensation carriers and all other health plans and local insurers. RadNet will also provide Kennedy's inpatient and outpatient radiology departments with management services that focus on reducing costs, improving operational efficiencies, assisting in the selection of appropriate radiology equipment and other functions, such as information technology, marketing, utilization review, billing and collecting, transcription, medical records management, equipment maintenance, purchasing and insurance. This arrangement will implement best practices across all the networked imaging facilities and hospitals, with the ultimate objective of improving quality of service and patient care while reducing costs.

RadNet Announces Expiration of its Tender Offer and Consent Solicitation for its 10 3/8% Senior Notes Due 2018

RadNet, Inc. announced the expiration and final results of its previously announced cash tender offer for any and all of its outstanding $200,0000,000 aggregate principal amount of 10 3/8% Senior Notes due 2018 (the 'Notes') and the related solicitation of consents to amend the indenture governing the Notes (the 'Consent Solicitation'). The tender offer expired pursuant to its terms at 11:59 P.M., New York City time, on April 3, 2014 (the 'Expiration Date'). On March 25, 2014 (the 'Initial Payment Date'), the company made a payment in cash for all Notes tendered prior to 5:00 P.M., New York City time, on March 20, 2014 (the 'Consent Payment Deadline'). As of the Consent Payment Deadline, the company had received tenders and consents in respect of $193,464,000 aggregate principal amount of the Notes, representing 96.73% of the outstanding Notes, all of which were accepted for purchase. The total consideration for each $1,000 principal amount of Notes validly tendered and not withdrawn at or prior to the Consent Payment Deadline and accepted for purchase was $1,056.88 (the 'Total Consideration'), which amount included a consent payment (the 'Consent Payment') of $30.00 per $1,000 principal amount of Notes. In addition, all Notes accepted for payment received accrued and unpaid interest in respect of such Notes from the last interest payment date prior to the applicable settlement date to, but not including, the applicable settlement date. A total of approximately $6,536,000 in aggregate principal amount of the Notes remained outstanding at the Expiration Date. As previously announced, the company has called for redemption all of its remaining outstanding Notes not purchased prior to the Expiration Date, with a redemption date of April 24, 2014 (the 'Redemption Date'). Upon redemption, the holders of the Notes being redeemed will receive a redemption price equal to 105.188% of the outstanding principal amount of the Notes being redeemed (or $1,051.88 per $1,000 in principal amount of the Notes) plus accrued and unpaid interest, if any, up to, but excluding the Redemption Date.

RadNet, Inc. Announces Completion of its Senior Debt Refinancing and Receipt of Required Consents for its Tender Offer and Consent Solicitation for 10 3/8% Senior Notes Due 2018

RadNet, Inc. announced that the company has completed its previously announced proposed amendment of its existing senior secured first lien credit facility and has entered into a new senior secured second lien term loan facility. The company has amended its existing credit and guaranty agreement, by and among the company, its wholly-owned subsidiary, RadNet Management, Inc., as the borrower, certain subsidiaries and affiliates of RadNet Management, the lenders party thereto from time to time, and Barclays Bank PLC, as administrative agent and collateral agent, to provide for, among other things, the borrowing by RadNet Management of $30.0 million of new first lien term loans. In addition, the company has entered into a second lien credit and guaranty agreement, by and among the company, RadNet Management, as the borrower, certain subsidiaries and affiliates of RadNet Management, the lenders party thereto from time to time, and Barclays, as administrative agent and as collateral agent, pursuant to which RadNet Management has borrowed $180.0 million of new second lien term loans. RadNet Management has the option of paying interest on the new term loans under the second lien credit agreement at either the adjusted LIBOR rate plus 7.0% or the base rate plus 6.0%. The interest rates payable on the new term loans under the first lien credit agreement are the same as the rates currently payable under the first lien credit agreement, which are the adjusted LIBOR rate plus 3.25% or the base rate plus 2.25%. The adjusted LIBOR rate has a minimum floor of 1.0% on both the first lien term loans and the second lien term loans. In addition, RadNet Management has paid certain customary fees in connection with obtaining this financing. The obligations of RadNet Management under the first lien credit agreement and the second lien credit agreement are guaranteed by the company, all of RadNet Management's current and future wholly-owned domestic subsidiaries and certain of its affiliates. The obligations are secured by substantially all of the assets of RadNet Management, the company and such subsidiaries and affiliates and by a pledge of the equity capital of RadNet Management and such subsidiaries. Proceeds from the new first lien term loans and second lien term loans will be used in part to finance the payment of total consideration payable to holders of RadNet Management's $200.0 million in aggregate principal amount of 10 3/8% senior notes due 2018 in connection with its previously announced offer to purchase any and all of its notes through a tender offer and the related solicitation of consents to amend the indenture governing the notes, and any related fees and expenses, in connection with the tender offer and consent solicitation. In addition, proceeds will also be used to pay fees and expenses related to the transaction and for general corporate purposes. On March 20, 2014 RadNet Management received the required consents to amend the indenture governing its Notes in connection with the tender offer and the consent solicitation. The terms and conditions of the tender offer and consent solicitation are described in the company's offer to purchase and consent solicitation statement, dated March 7, 2014.

 

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RDNT

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Valuation RDNT Industry Range
Price/Earnings 91.8x
Price/Sales 0.3x
Price/Book NM Not Meaningful
Price/Cash Flow 3.3x
TEV/Sales NM Not Meaningful
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