RadNet to acquire iCAD in an all-stock transaction

RadNet (RDNT) and iCAD (ICAD) announced that they have entered into a definitive merger agreement under which RadNet will acquire iCAD in an all-stock transaction. Under the terms of the merger agreement, iCAD stockholders will receive 0.0677 shares of RadNet common stock for each share of iCAD common stock they hold at the closing of the merger. Based upon RadNet’s closing price on Monday, April 14, this represents a transaction value of approximately $103M, or approximately $3.61 per share of iCAD common stock on a fully diluted basis and an approximately 98% premium to iCAD stockholders based on iCAD’s closing stock price on Monday, April 14. The transaction, expected to close in the second or third quarter of 2025, is subject to approval by iCAD stockholders and other customary closing conditions, and was unanimously approved by each company’s board of directors.