RadNet, a leading provider of diagnostic imaging services and digital health solutions, has announced its acquisition of iCAD, a company specializing in AI-powered breast health solutions. The merger, valued at approximately $103 million, will allow iCAD stockholders to receive shares of RadNet common stock in exchange for their iCAD shares. This acquisition is expected to enhance RadNet's existing AI-powered DeepHealth breast screening solutions, improving patient diagnosis and outcomes through more accurate and early detection of breast cancer. With iCAD’s robust installed base and strong sales capabilities, RadNet anticipates expanding its reach to more than 1,500 healthcare provider locations worldwide, further accelerating its AI objectives.
Both companies are optimistic about the merger’s potential to transform breast cancer detection and treatment. RadNet's CEO, Dr. Howard Berger, highlighted, “iCAD’s ProFound Breast Health Suite and RadNet’s DeepHealth AI-powered breast screening solutions, together, have the power to materially expand and improve patient diagnosis and outcomes on a global basis through further enabling accuracy and early detection.” iCAD's CEO, Dana Brown, expressed confidence that the merger will enable the development of more precise and efficient solutions, ultimately improving patient care. The transaction, which is expected to close in the second or third quarter of 2025, is subject to approval by iCAD stockholders and customary closing conditions.
