RadNet falls after $103 million all-stock acquisition to buy iCAD
ReutersApr 15, 2025 8:49 PM
Shares of radiology center operator RadNet RDNT.O fall 2% to $52 in extended trading
RDNT says it is acquiring iCAD ICAD.O, an AI breast cancer detection software maker, in an all-stock acquisition valued about $103 million
RDNT is offering $3.61/shr of ICAD common stock, representing a significant 87% premium to ICAD's closing price on Tuesday
Shares of iCAD up 73% at $3.31 in extended trading
Deal expected to close in the second or third quarter of 2025
RDNT says the deal is expected to add over 1,500 healthcare-provider locations across 50 countries to its network
As of last close, RDNT down 24% and ICAD up 5.5%, YTD
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