The parent company of
has acquired its major competitor for $40 million, creating one of the largest imaging service providers in the region.
RadNet Inc has acquired the majority of US imaging centers operated by CML Healthcare, including CML's subsidiaries American Radiology and the Imaging Institute.
“Our hope is that it is good news for the Baltimore market in that RadNet can bring its operating expertise to the area with these centers and improve what they're doing for the future.” says RadNet Executive Vice President Steve Forthuber.
RadNet operates 233 radiology centers in Maryland, Delaware, New Jersey, New York, Rhode Island and California. The acquisition of American Radiology adds 2,000 employees and 61 radiology and imaging centers to RadNet's portfolio in the area.
"We're hard at work understanding all aspects of the (American) operation in Maryland so that we can make sure that we're providing high quality services, ” Forthuber says. “We plan on operating all of the centers with the objective of enhancing operations.”
RadNet says it intends to keep all of its Baltimore area centers open and maintain the same radiologists and staffers at all of the newly acquired American Radiology centers. The company may cut corporate positions where there is overlap.
Source: Steve Forthuber, RadNet
Writer: Amy McNeal