RadNet has announced the acquisition of Medical Arts Radiology, the owner of ten imaging centers on Long Island. At present, RadNet operates more than 300 centers across the nation.
“We are delighted to complete this important transaction,” said Howard Berger, MD, chairman and CEO of RadNet, in a prepared statement. “After building a significant presence in the neighboring boroughs of New York City, including Queens, Brooklyn, Manhattan and the Bronx, we have been interested for some time in entering the Long Island marketplace.”
The acquisition includes facilities in Bay Shore, Commack, East Setauket, Huntington, Massapequa, Patchogue, Plainview, Smithtown, West Babylon and Stony Brook. Collectively, the centers perform 180,000 procedures annually and generate approximately $40 million in revenue.
“Medical Arts is one of the most respected and well-known radiology practices in this market and is an ideal practice from which to build,” Berger said in the same statement. “Medical Arts provides high-quality service to the communities it serves and I believe that its culture aligns extremely well with that of RadNet. I welcome the employees and affiliated physicians of Medical Arts to the RadNet family.”
The acquisition will add more than 350 full- and part-time employees and access to 15 radiologists.
As a senior news writer for TriMed, Subrata covers cardiology, clinical innovation and healthcare business. She has a master’s degree in communication management and 12 years of experience in journalism and public relations.