RadNet Inc., which owns 191 outpatient diagnostic imaging centers in seven states, is buying its own picture archiving and communication systems vendor rather than continue to pay fees to other PACS companies. The acquisition also will bring the business a new revenue stream.
Los Angeles-based RadNet will pay $10.75 million for Image Medical Corp., the parent company of PACS firm eRAD Inc. of Greenville, S.C. The company has more than 250 hospitals, teleradiology companies, imaging centers and specialist group practices using its PACS. RadNet expects to close the acquisition this year and for eRAD to initially contribute $5 million in annual revenue.
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