What You Should Know:
– RadNet, Inc., a national leader in providing high-quality, cost-effective diagnostic imaging services and digital health solutions, and iCAD, Inc., a global leader in AI-powered breast health solutions, announced that they have entered into a definitive merger agreement.
– Under the agreement, RadNet will acquire iCAD for $103M in an all-stock transaction.
Financial Details
Based on RadNet’s closing price on Monday, April 14, 2025, the transaction is valued at approximately $103 million, or approximately $3.61 per share of iCAD common stock on a fully diluted basis. This represents an approximate 98% premium to iCAD stockholders, based on iCAD’s closing stock price on Monday, April 14, 2025. According to the terms of the merger agreement, iCAD stockholders will receive 0.0677 shares of RadNet common stock for each share of iCAD common stock they hold at the closing of the merger.
iCAD Background
iCAD is focused on providing AI-powered solutions for earlier and more accurate cancer detection. Headquartered in Nashua, N.H., iCAD’s ProFound Breast Health Suite offers AI-powered mammography analysis for breast cancer detection, density assessment, and risk evaluation. ProFound is used by thousands of providers in over 50 countries. iCAD estimates that its technology has been used to read over 40 million mammograms worldwide in the past five years, with nearly 30% being tomosynthesis.
“As we join forces with RadNet to create a broad offering of AI-driven solutions, we have the opportunity to redefine how breast cancer and other diseases are detected and treated. Together, we will work to expand access to cutting-edge tools, accelerate innovation and advance our product roadmaps, empowering radiologists with more precise, efficient and scalable solutions that should ultimately improve patient care and outcomes. With current and future products in breast cancer detection, risk evaluation, density assessment and breast arterial calcification, we believe RadNet’s scale, access to data and clinical leadership will ensure our current and future products are brought to market, improving radiologist and patient workflow and clinical outcomes,” said Dana Brown, President and CEO of iCAD.
