July 11, 2006—Primedex Health Systems (Los Angeles, Calif) announced Friday its planned acquisition of imaging center operator Radiologix Inc (Dallas, Tex) through a cash and stock transaction valued at $208 million.
The deal will create the largest owner and operator of fixed-site diagnostic imaging centers in the United States, incorporating 132 locations in 11 states. Primedex, which will change its corporate name to Radnet Inc after the transaction, anticipates over $400 million in annual revenues as a result of the purchase. Primedex also plans to submit an application for listing on the American Stock Exchange; the company’s shares currently trade on the over-the-counter bulletin board.
Primedex CEO Howard Berger said in a statement, “With truly complementary geographic operations and management systems, we are ideally positioned to strengthen what will be the leading provider in the fixed center imaging services arena, and to expand aspects of the unique Primedex business model on a national scale.”
The transaction is expected to close before the end of the year.
—Cat Vasko
