Radiology Business April 8, 2024
Ratings agencies are reacting favorably to imaging industry giant RadNet’s $1 billion in debt maneuvers.
The Los Angeles-based outpatient chain announced April 3 that it plans to refinance a $679 term loan and $195 revolving credit line. In their place, RadNet Inc. would take on a new $840 million term loan and $250 million credit line, using at least part of the funds to fuel growth initiatives.
Both S&P and Moody’s issued analyses shortly after the announcement, highlighting RadNet’s strong revenue growth, competitive position and liquidity.
“The [company’s] rating also benefits from the long-term trend of imaging volumes migrating away from hospitals to lower cost settings as well as the diversification of revenues through the multi-modality capabilities of RadNet’s sites,”...
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