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RadNet is sitting on almost $700M in cash. CEO Howard Berger, MD, discusses how he plans to deploy it
Radiology Business June 7, 2024
Imaging industry giant RadNet Inc. is sitting on nearly $700 million in cash after several recent financial maneuvers. CEO Howard Berger, MD, recently discussed how his company plans to deploy these resources, with further expansion potentially on the horizon.
Berger discussed RadNet’s strategy during the Jefferies 2024 Global Healthcare Conference on Wednesday in New York City. The publicly traded, Los Angeles-based company was able to boost its balance sheet by raising $230 million in capital through a public stock offering in March. RadNet also recently refinanced over $1 billion in debts, allowing it to pay down balances and further fuel growth.
In Q1, the company recorded adjusted earnings of nearly $58 million, a 21% year-over-year uptick, with its debt-to-equity ratio...
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