The acquisition is entitled for cash consideration of $2.2m plus the assumption of approximately $700,000 of debt.
Highway Imaging in Brooklyn and Parkland Diagnostic in Orchard Park are both multimodality facilities, offering a combination of MRI, CT, PET/CT, ultrasound, mammography, bone density and x-ray.
The two centers are expected to add approximately $7m of revenue to RadNet on an annualized basis.
RadNet president and CEO Howard Berger said that the acquisition of the Highway Imaging facility further increases their presence in the populated market.
"Our acquisition of Parkland Diagnostic represents a contiguous market expansion for our Rochester cluster of centers, and is our first center in the greater Buffalo, New York area," Berger said.
