RadNet completes acquisition of Health Diagnostics' New Jersey subsidiary

RadNet, Inc. (Nasdaq:RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 191 fully-owned and operated outpatient imaging centers, today reported it has completed the previously announced acquisition of the New Jersey operating subsidiary of Health Diagnostics.

In the first quarter of 2010, the Company entered into a letter of intent to acquire substantially all of the business of the New Jersey operating subsidiary of Health Diagnostics. As a result of the acquisition, we acquired three New Jersey facilities in Edison, Old Bridge and Green Brook. Imaging modalities include MRI, CT, PET/CT, mammography, ultrasound and x-ray.

"We are very excited to welcome the many outstanding New Jersey employees of Health Diagnostics into the RadNet organization. Through its facilities, Health Diagnostics has an exemplary reputation for providing high-quality service to the patients and referring community in its communities. We believe that these Health Diagnostics assets, combined with the other facilities we acquired over the last twelve months further our objective of becoming the premier imaging service provider in New Jersey," said Dr. Howard Berger, President and Chief Executive Officer of RadNet.