Diagnostic imaging service provider RadNet Inc., based in Los Angeles, today announced its acquisition of the Rolling Oaks Radiology imaging centers in Thousand Oaks, Calif.

The facilities will add approximately $9 million of revenue to RadNet on an annualized basis.  The purchase price consisted of approximately $5.9 million in cash and the assumption of approximately $5.9 million of debt.

As part of the agreement, the Rolling Oaks Medical Group has signed a long-term contract with RadNet, and it will continue to provide all radiology services to these two centers as well as to the existing RadNet Westlake/Thousand Oaks facilities on an exclusive basis.  The group provides subspecialist capabilities, including interventional radiology, dedicated women’s imaging and neuroradiology.

A fixture in the Westlake/Thousand Oaks market since 2003, the practice consists of two multimodality centers, one of which is a dedicated women’s center. Five radiologists staff the two facilities.