RadNet forms joint venture with Saint Alphonsus Health System

RadNet (RDNT) announced the formation of a joint venture with Saint Alphonsus Health System through the acquisition of a majority equity position in Intermountain Medical Imaging, the owner of five outpatient multi-modality imaging centers in Boise, Idaho. The Idaho-based joint venture with Saint Alphonsus Health System, which is part of Trinity Health, operates three multimodality outpatient imaging centers in Meridian and Eagle, as well as facilities at two Saint Alphonsus medical centers. The existing contracted radiology practice for the joint venture, Gem State Radiology, will continue providing professional radiology services to the five locations through its network of nearly 30 radiologists. RadNet will assume management of the operations for each of the five locations. The centers currently offer a mix of MRI, CT, PET/CT, mammography, ultrasound, X-ray and other related procedures. The new joint venture is projected to generate approximately $30M in annual revenue for RadNet.