RadNet of Los Angeles has signed a definitive agreement to purchase Borg Imaging Group for $11.7 million in cash, plus approximately $1 million of debt.
Borg Imaging Group is an outpatient diagnostic imaging provider with six facilities in Rochester, NY. Five of the six centers include multimodality services, offering a combination of MRI, CT, x-ray, mammography, fluoroscopy, and ultrasound.
With the acquisition of the Borg imaging centers, RadNet will have 11 facilities in Rochester and will add an estimated $14 million to its annual revenues.
The acquisition is expected to close on or around May 31.
By AuntMinnie.com staff writers
May 24, 2007
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