RadNet falls after $103 million all-stock acquisition to buy iCAD

icad

15/04/2025 21:49

** 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

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))