M&A Deal Summary

RadNet Acquires iCAD

On April 15, 2025, RadNet acquired medical products company iCAD for 103M USD

Acquisition Highlights
  • This is RadNet’s 2nd transaction in the Medical Products sector.
  • This is RadNet’s largest (disclosed) transaction.
  • This is RadNet’s 7th transaction in the United States.
  • This is RadNet’s 1st transaction in New Hampshire.

M&A Deal Summary

Date 2025-04-15
Target iCAD
Sector Medical Products
Buyer(s) RadNet
Deal Type Add-on Acquisition
Deal Value 103M USD
Advisor(s) Piper Sandler & Co. (Financial)
Dentons (Legal)

Target

iCAD

Nashua, New Hampshire, United States
iCAD is a provider of advanced image analysis and workflow solutions that enable healthcare professionals to better serve patients by identifying pathologies and pinpointing cancer earlier. iCAD offers a comprehensive range of high-performance, upgradeable Computer-Aided Detection (CAD) systems and workflow solutions for mammography (film-based, digital radiography and computed radiography), iCAD was founded in 1984 and is based in Nashua, New Hampshire.

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Buyer(S) 1

Buyer

RadNet

Los Angeles, California, United States

Category Company
Founded 1985
Sector Healthcare Services
Employees9,700
Revenue 1.8B USD (2024)
DESCRIPTION

RadNet provides diagnostic imaging services through a network of 263 fully-owned and operated outpatient imaging centers. RadNet was founded in 1985 and is based in Los Angeles, California.


DEAL STATS #
Overall 10 of 12
Sector: Medical Products M&A 2 of 2
Type: Add-on Acquisition M&A Deals 10 of 12
State: New Hampshire M&A 1 of 1
Country: United States M&A 7 of 8
Year: 2025 M&A 1 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Heart&Lung

Ruislip, United Kingdom

Heart&Lung delivers accurate and early diagnosis for lung & cardiac conditions, where early interventions are vital. HLH provides access to award-winning Cardiothoracic Radiologists with targeted expertise in the diagnosis of lung and cardiac conditions. The company uses innovative technology to deliver rapid, reliable, and unique subspecialist imaging reports that are focused on providing world-class patient care. Its radiologists offer subspecialty chest expertise that is tailored to individual lung and cardiac conditions, thereby offering a bespoke, individualized diagnostic report for all cardiothoracic imaging. Heart&Lung was formed in 2020 and is based in Ruislip, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-05 Alpha RT

Coral Springs, Florida, United States

Alpha RT provides remote MRI scanning services and certification training for MRI Tech Aides, designed to support imaging centers and hospitals that face MRI staffing challenges. Alpha RT is headquartered in Coral Springs, Florida.

Buy -