RadNet Enters into Second Joint Venture with Dignity Health in California
March 04 2019 - 9:25AM
RadNet, Inc. (NASDAQ: RDNT), a national leader in
providing high-quality, cost-effective, fixed-site outpatient
diagnostic imaging services, today reported it has entered into a
second outpatient radiology joint venture with Dignity Health in
California. The Ventura County, California venture expands
RadNet’s and Dignity Health’s existing commitment to providing
high-quality imaging services to these communities through
establishing a network of four Rolling Oaks Radiology-branded
multimodality imaging centers.
Ventura County, located just northwest of Los
Angeles, is home to more than 900,000 people. It has a strong
economic base including several major industries and
universities. In forming the joint venture, RadNet
contributed three of its Rolling Oaks Radiology imaging centers in
Ventura, Oxnard and Camarillo. Dignity Health contributed an
imaging center co-located with its St. John’s Regional Medical
Center in Oxnard. The imaging locations provide multimodality
radiology including MRI, CT, Mammography, PET/CT, Ultrasound, Xray,
and Nuclear Medicine.
Dr. Howard Berger, Chairman and Chief Executive
Officer of RadNet, noted, “We are pleased to announce an expanded
relationship with Dignity Health. In the second quarter of
2016, we established our initial joint venture with Dignity in the
Glendale, California marketplace. That venture has had
excellent performance, and it formed the basis of a shared vision
and operating strategy for outpatient diagnostic imaging that now
will be expanded to Ventura County. Dignity Health operates
two hospitals in the area surrounding these four joint venture
imaging centers, and I’m certain that Dignity’s relationships and
outreach into these medical communities will bring great value to
the newly created partnership.”
“It is the mission and intention of St. John’s
Regional Medical Center in Oxnard and St. John’s Pleasant Valley
Hospital in Camarillo to maintain our commitment to the community
to provide advanced technologies and services to our patients. This
joint venture furthers our capabilities, allowing us to provide the
most innovative imaging equipment available to best serve our
growing region. We are proud to partner with RadNet, as our visions
of providing state-of the-art imaging services are aligned,” says
Darren Lee, President & CEO, St. John’s Regional Medical Center
and St. John’s Pleasant Valley Hospital.
About RadNet, Inc.
RadNet, Inc. is the leading national provider of freestanding,
fixed-site diagnostic imaging services in the United States based
on the number of locations and annual imaging revenue. RadNet has a
network of 341 owned and/or operated outpatient imaging centers.
RadNet's core markets include California, Maryland, Delaware, New
Jersey and New York. In addition, RadNet provides radiology
information technology solutions, teleradiology professional
services and other related products and services to customers in
the diagnostic imaging industry. Together with affiliated
radiologists, and inclusive of full-time and per diem employees and
technicians, RadNet has a total of over 7,500 employees. For
more information, visit http://www.radnet.com.
About Dignity Health St. John’s Pleasant Valley Hospital
and St. John’s Regional Medical CenterSt.
John’s Pleasant Valley Hospital in Camarillo and St. John’s
Regional Medical Center in Oxnard are members of Dignity Health
Central Coast, an integrated network of top quality hospitals, with
physicians from the most prestigious medical schools, and
comprehensive outpatient services - all recognized for quality,
safety and service. Both hospitals are supported by an active
philanthropic Foundation to help meet the growing health care needs
of our communities. Hospitals in the Dignity Health Central Coast
region also include Arroyo Grande Community Hospital in Arroyo
Grande, French Hospital Medical Center in San Luis Obispo, Marian
Regional Medical Center in Santa Maria. Learn more at
DignityHealth.org/PleasantValley and
DignityHealth.org/StJohnsRegional.
CONTACTS:
RadNet,
Inc. Mark Stolper,
310-445-2800 Executive Vice
President and Chief Financial Officer
RadNet (NASDAQ:RDNT)
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