Source: RadNet, Inc.

RadNet Enters into Second Joint Venture with Dignity Health in California

LOS ANGELES, March 04, 2019 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, today reported it has entered into a second outpatient radiology joint venture with Dignity Health in California.  The Ventura County, California venture expands RadNet’s and Dignity Health’s existing commitment to providing high-quality imaging services to these communities through establishing a network of four Rolling Oaks Radiology-branded multimodality imaging centers.

Ventura County, located just northwest of Los Angeles, is home to more than 900,000 people.  It has a strong economic base including several major industries and universities.  In forming the joint venture, RadNet contributed three of its Rolling Oaks Radiology imaging centers in Ventura, Oxnard and Camarillo.  Dignity Health contributed an imaging center co-located with its St. John’s Regional Medical Center in Oxnard.  The imaging locations provide multimodality radiology including MRI, CT, Mammography, PET/CT, Ultrasound, Xray, and Nuclear Medicine.

Dr. Howard Berger, Chairman and Chief Executive Officer of RadNet, noted, “We are pleased to announce an expanded relationship with Dignity Health.  In the second quarter of 2016, we established our initial joint venture with Dignity in the Glendale, California marketplace.  That venture has had excellent performance, and it formed the basis of a shared vision and operating strategy for outpatient diagnostic imaging that now will be expanded to Ventura County.  Dignity Health operates two hospitals in the area surrounding these four joint venture imaging centers, and I’m certain that Dignity’s relationships and outreach into these medical communities will bring great value to the newly created partnership.”

“It is the mission and intention of St. John’s Regional Medical Center in Oxnard and St. John’s Pleasant Valley Hospital in Camarillo to maintain our commitment to the community to provide advanced technologies and services to our patients. This joint venture furthers our capabilities, allowing us to provide the most innovative imaging equipment available to best serve our growing region. We are proud to partner with RadNet, as our visions of providing state-of the-art imaging services are aligned,” says Darren Lee, President & CEO, St. John’s Regional Medical Center and St. John’s Pleasant Valley Hospital.

About RadNet, Inc.

RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 341 owned and/or operated outpatient imaging centers. RadNet's core markets include California, Maryland, Delaware, New Jersey and New York. In addition, RadNet provides radiology information technology solutions, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry.  Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has a total of over 7,500 employees.  For more information, visit http://www.radnet.com.

About Dignity Health St. John’s Pleasant Valley Hospital and St. John’s Regional Medical Center
St. John’s Pleasant Valley Hospital in Camarillo and St. John’s Regional Medical Center in Oxnard are members of Dignity Health Central Coast, an integrated network of top quality hospitals, with physicians from the most prestigious medical schools, and comprehensive outpatient services - all recognized for quality, safety and service. Both hospitals are supported by an active philanthropic Foundation to help meet the growing health care needs of our communities. Hospitals in the Dignity Health Central Coast region also include Arroyo Grande Community Hospital in Arroyo Grande, French Hospital Medical Center in San Luis Obispo, Marian Regional Medical Center in Santa Maria. Learn more at DignityHealth.org/PleasantValley and DignityHealth.org/StJohnsRegional.


RadNet, Inc. 
Mark Stolper, 310-445-2800 
Executive Vice President and Chief Financial Officer