RadNet to Acquire Cancer Screening Company for $100 Million
Los Angeles-based RadNet Inc. announced the proposed acquisition of iCAD Inc. for approximately $100 million on April 15. The transaction is subject to approval by iCAD stockholders and other customary closing conditions. The deal was unanimously approved by each company's board of directors and is expected to close by the third quarter of 2025.
The acquisition will unite two leading AI-powered cancer detection companies that are focused on improving the accuracy and early detection of breast cancer.
'This business combination is expected to accelerate our global leadership and commitment to AI-powered breast cancer screening and positions us to further advance population health,' said Dr. Howard Berger, chief executive of RadNet, in a statement.
Perkins Coie LLP and Reed Smith LLP are serving as legal counsel to RadNet. Piper Sandler & Co. serves as financial advisor and fairness opinion provider to iCAD. Dentons US LLP is serving as iCAD's legal counsel.
Information for this article was sourced from Radnet Inc.
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