RadNet Completes Acquisition of iCAD for $103M

RadNet's DeepHealth unit has completed the acquisition of iCAD, Inc. in an all-stock deal worth $103 million. iCAD develops and markets AI-powered solutions for breast cancer detection, which will expand RadNet's digital health services and geographic presence. The acquisition is expected to enhance RadNet's capabilities in the healthcare industry.

RadNet, Inc. (NASDAQ: RDNT) has completed the acquisition of iCAD, Inc. (NASDAQ: ICAD) through its wholly-owned subsidiary DeepHealth in an all-stock deal valued at $103 million. The acquisition aims to integrate iCAD's extensive AI portfolio for breast cancer detection with DeepHealth's screening solutions, thereby expanding RadNet's digital health services and geographic presence.

iCAD, a global leader in AI-powered breast health solutions, has developed and deployed technologies in over 50 countries, serving more than 1,500 healthcare provider locations worldwide. The company's technology portfolio includes solutions for breast cancer detection, risk evaluation, breast density assessment, and breast arterial calcification assessment. These solutions will now be integrated with DeepHealth's end-to-end screening and diagnostic solutions, enhancing both cancer detection rates and workflow efficiency.

The acquisition is expected to significantly boost RadNet's capabilities in the healthcare industry. By combining iCAD's advanced AI capabilities with DeepHealth's existing suite of AI-powered health informatics, RadNet aims to improve clinical outcomes and operational efficiency. The combined portfolio will enable the delivery of a comprehensive suite of AI-powered image interpretation and workflow solutions that address real-world clinical needs across the cancer screening and detection pathways.

Moreover, the acquisition will expand RadNet's market access, allowing it to scale its impact to over 10 million mammograms annually. This global reach aims to accelerate AI adoption and screening compliance by bringing advanced AI-powered solutions to communities around the world, including those that are underserved.

RadNet's President and CEO of the Digital Health segment, Kees Wesdorp, commented, "We are excited to welcome the iCAD team to DeepHealth. The integration of iCAD further empowers DeepHealth to meet the real-world clinical needs of today, from improving the accuracy and early detection of breast cancer to orchestrating large-scale screening programs, while shaping the future of breast cancer management. Our combined capabilities position us for accelerated growth and rapid delivery of transformative, AI-powered population health solutions."

The acquisition is subject to certain risks and uncertainties, including the ability to recognize the anticipated benefits of the acquisition, achieve synergies, and successfully integrate iCAD into RadNet's business. Forward-looking statements included in this communication are qualified in their entirety by this cautionary statement [1].

References:
[1] RadNet, Inc. (2025). RadNet Completes Acquisition of iCAD. Retrieved from https://www.radnet.com/about-radnet/news/radnet-s-wholly-owned-subsidiary-deephealth-completes-acquisition-of-icad