Outpatient diagnostic imaging services provider RadNet has paid approximately $30.3m for acquiring Manhattan-based Lenox Hill Radiology in New York, US.
Lenox Hill is involved in operating various multimodality facilities as well as several satellite routine imaging facilities throughout Manhattan.
RadNet president and chief executive officer Howard Berger said with existing contiguous market presence in Northern New Jersey and the surrounding New York markets of Rockland County, Westchester County and Brooklyn, the borough of Manhattan is a logical extension for the company.
"Characterized by a significant and dense patient population exceeding 1.6 million, a favorable mix of insurance carriers and a limited number of entrenched outpatient, non-hospital-affiliated imaging center competitors, we believe Manhattan is an attractive market for us," Berger added.
"We warmly welcome the valued physicians and employees of Lenox Hill Radiology, and look forward to sharing best practices amongst our two companies."
Lenox Hill Radiology principal Carmel Donovan said, "We are eagerly looking forward to the benefits that RadNet can bring to our operation, including providing us the ability to grow more effectively within our markets and more efficiently service our referring physician communities and loyal patient populations."