Primedex Health Systems has completed its acquisition of fellow imaging services provider Radiologix of Dallas, the Los Angeles company announced yesterday.
Primedex closed the deal in a cash and stock transaction valued at $221 million. The combined company now operates 134 imaging centers in the U.S. and is the largest imaging center operator in the country.
Radiologix shareholders received 22.6 million shares of Primedex stock and $43 million in cash. Each Radiologix shareholder received $1.79 in cash for each Radiologix share, plus one share of Primedex common stock, for a total consideration of $4.59.
Primedex said that the deal gives the company a "concentrated platform" outside of its core California market for national expansion, and the firm will use strategies of geographic clustering, exclusive capitation contracting, and multimodality product offerings as part of its growth effort.
By AuntMinnie.com staff writers
November 16, 2006
Related Reading
Radiologix posts Q3 report, updates merger plans, November 9, 2006
Radiologix posts positive Q2, August 8, 2006
Imaging services firm Primedex to buy Radiologix, July 7, 2006
Radiologix grows sales, profit, May 4, 2006
Radiologix sees revenue gain, loss reduction in Q4, March 9, 2006
Copyright © 2006 AuntMinnie.com
