RadNet Inc is a leading national provider of diagnostic imaging services in the United States operating 418 imaging centers across nine states as of December 31 2025. The company was founded in 1985 and has grown through a combination of internal development and strategic acquisitions. Its core business consists of delivering outpatient imaging exams that help physicians detect diagnose and monitor a wide range of medical conditions. The centers offer a full suite of modalities including MRI CT PET nuclear medicine mammography ultrasound Xray and fluoroscopy. By locating many centers in dense metropolitan areas RadNet aims to provide convenient access to high quality imaging for patients and referring physicians.

Revenue is derived mainly from two sources: fees for imaging procedures performed at company owned or jointly managed centers and sales of digital health software and services. Imaging fees are collected from third party payors such as commercial insurers managed care organizations Medicare and Medicaid as well as from patients through co pays and deductibles. The company negotiates reimbursement rates with payors and also receives direct payments for services rendered under contract with physician groups. Digital health revenue comes from the sale of RIS PACS workflow platforms AI based image analysis tools and related support and maintenance contracts. These software products are sold to hospitals health systems imaging centers and other healthcare providers in the United States and abroad. The mix of service and technology revenue helps reduce reliance on any single reimbursement stream.

The company reports its operations in two distinct business segments: Imaging Centers and Digital Health. The Imaging Centers segment encompasses all activities related to the operation of outpatient diagnostic imaging facilities. The Digital Health segment includes the development sale and support of software solutions that manage store and interpret medical images.

• The Imaging Centers segment operates 418 freestanding outpatient facilities spread across Arizona California Delaware Florida Maryland Virginia New Jersey New York and Texas. These centers provide a broad range of imaging procedures including MRI CT PET nuclear medicine mammography ultrasound Xray and fluoroscopy. Most locations offer multiple modalities allowing patients to receive several types of exams at one site. The segment generates revenue through fees billed to insurance companies government programs and individual patients for each performed study.

• The Digital Health segment creates and markets computerized systems for image storage retrieval distribution and reporting. It offers AI powered applications that assist radiologists in detecting abnormalities in mammography lung ultrasound and prostate imaging. Key products include eRad RIS PACS DeepHealth OS and tools acquired from Aidence Quantib ICAD and CIMAR. The segment serves over two thousand customers worldwide ranging from large hospital networks to small private clinics. Revenue is recognized from software licenses maintenance fees and professional services related to implementation and training.

RadNet Inc holds a leading position in the outpatient diagnostic imaging market measured by number of centers and total imaging revenue. The company is frequently cited as the largest freestanding provider of imaging services in the United States. Its scale enables it to secure favorable contracts with national and regional health plans. Competitive advantages include a diversified modality mix strong relationships with referring physician groups and a growing portfolio of digital health technologies. The firm also benefits from a disciplined acquisition strategy that adds volume and geographic depth while integrating operations to achieve cost savings.

The company serves a diverse customer base that includes individual patients seeking diagnostic exams and their referring physicians who order the studies. Hospitals and health systems contract with RadNet both for imaging center joint ventures and for the purchase of digital health software. Insurers such as commercial carriers Medicare and Medicaid pay for services rendered to their members. Additionally the company works with employer groups and occupational health providers that require imaging for workforce health programs. While specific customer names are not disclosed in the filing the breadth of relationships underscores the company’s reach across the healthcare ecosystem.