99.1 Press Release dated

Release dated August 8, 2014

RadNet Reports Record Second Quarter Financial Results and Adjusts

Upwards 2014 Guidance Ranges for Revenue and Adjusted EBITDA(1)

California, August 8, 2014 - RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective,

fixed-site outpatient diagnostic imaging services through a network of 251 owned and/or operated outpatient imaging centers, today

reported financial results for its second quarter of 2014.

Dr. Howard Berger, President and Chief Executive

Officer of RadNet, commented, "We are very pleased with our performance in the second quarter. We reported record Adjusted

EBITDA(1) and pre-tax earnings and increased aggregate and same store volume from last year's second quarter.

Our sequential growth in Revenue, Adjusted EBITDA(1) and Net Income was even more pronounced when compared with the

first quarter of 2014. Helping us mitigate the $22 million full-year 2014 Medicare negative impact has been our execution of a

$30 million cost savings plan we began implementing in the fourth quarter of last year. Although this cost savings plan is substantially

complete, we continue to execute on an additional $10 million of annualized cost savings we identified and announced several months

ago. We expect to begin benefitting from these additional cost savings in the third and fourth quarters of 2014."

Dr. Berger continued, "Consistent with

our goal to reduce debt, we repaid $12.9 million of net debt during the second quarter, which included retiring the remaining approximately

$6.5 million of our 10 3/8% senior notes during the quarter, the most expensive part of our capital structure. As a result of our

refinancing transaction, we face no near term maturities. Our first lien term loan matures in 2018 and our second lien term loan

matures in 2021. We believe the current capital structure, which has an average debt cost of about 5.5%, provides us the financial

flexibility to comfortably manage and grow our business. Our refinancing transaction completed in March 2014 saves us approximately

$5 million of annual interest expense. This, combined with our projection of reducing capital expenditures to approximately $10

million for the next two quarters, are the reasons why we believe RadNet can generate $30 million or more of free cash flow over

the remainder of the year."

Dr. Berger added, "We continue to experience

strong volumes, which has been partially driven by participation of previously uninsured or underinsured individuals who are now

enrollees of state run or privately managed healthcare exchanges, particularly those in California. We expect the current level

of utilization of imaging services will continue for the remainder of 2014."

Second Quarter Financial Results

For the second quarter of 2014, RadNet reported

Revenue of $179.1 million, Adjusted EBITDA(1) of $33.4 million and Net Income of $5.1 million, respectively. Revenue

increased $2.6 million (or 1.5%), Adjusted EBITDA(1) increased $3.4 million (or 11.3%) and Net Income increased

$2.5 million, respectively, over the second quarter of 2013. Per share Net Income for the second quarter was $0.12, compared to

per share Net Income in the second quarter of 2013 of $0.07 (based upon a weighted average number of diluted shares outstanding

of 43.3 million and 39.8 million for these periods in 2014 and 2013, respectively).

Affecting Net Income in the second quarter

of 2014 were certain non-cash expenses and non-recurring items including: $611,000 of non-cash employee stock compensation expense

resulting from the vesting of certain options and restricted stock; $383,000 of severance paid in connection with headcount reductions

related to cost savings initiatives; $46,000 loss on the sale of certain capital equipment; $1.4 million of combined non-cash amortization

and write-off of Deferred Financing Expense and discount on issuance and refinance of debt related to financing fees paid as part

of our existing credit facilities; and $471,000 loss on the extinguishment of debt related to redeeming in April 2014 the remaining

portion of senior unsecured notes.

For the second quarter of 2014, as compared

to the prior year's second quarter, MRI volume increased 2.6%, CT volume increased 5.7% and PET/CT volume decreased 0.3%.

Overall volume, taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other exams, increased

6.2% over the prior year's second quarter. On a same-center basis, including only those centers which were part of RadNet

for both the second quarters of 2014 and 2013, MRI volume increased 0.5%, CT volume increased 3.5% and PET/CT volume decreased

7.6%. Overall same-center volume, taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other

exams, increased 4.0% over the prior year's same quarter.

Six Month Financial Results

For the six months ended June 30, 2014, RadNet

reported Revenue, Adjusted EBITDA(1) and Net Income of $348.0 million, $61.1 million and $3.7 million (excluding the

tax adjusted loss on extinguishment of debt), respectively. Revenue decreased $1.5 million (or negative 0.4%), Adjusted

EBITDA(1) increased $5.5 million (or 9.8%) and Net Income increased $3.4 million (also excluding the tax adjusted loss

on extinguishment of debt and gain on sale of imaging centers), respectively, over the first six months of 2013. Net Income for

the six month period ended June 30, 2014 was $0.09 per diluted share (excluding the tax adjusted loss on extinguishment of debt),

compared to Net Income of $0.03 per diluted share in corresponding six month period of 2013 (based upon a weighted average number

of fully diluted shares outstanding of 42.2 million and 40.0 million for these periods in 2014 and 2013, respectively).

Affecting operating results in the six months

ended June 30, 2014 were certain non-cash expenses and non-recurring items including: $1.6 million of non-cash employee stock compensation

expense resulting from the vesting of certain options and restricted stock; $864,000 of severance paid in connection with headcount

reductions related to cost savings initiatives; $292,000 loss on the sale of certain capital equipment; $3.2 million of combined

non-cash amortization and write-off of Deferred Financing Expense and discount on issuance and refinance of debt related to financing

fees paid as part of our existing credit facilities; and $15.9 million loss on the extinguishment of debt related to the Company's

March 25, 2014 refinancing of its senior unsecured notes with a new second lien term loan.

2014 Guidance Update

RadNet updates the previously announced 2014 fiscal year guidance

Dr. Berger highlighted, "Based upon the

strong second quarter results along with increasing confidence we have about the remaining two quarters of 2014, we have increased

our Revenue and Adjusted EBITDA(1) guidance levels for 2014. We continue to experience strong volumes, particularly

on the West Coast where there has been a disproportionately high participation in the state run and privately managed healthcare

exchanges. Additionally, subsequent to the end of the second quarter in early July, we completed four small tuck-in acquisitions

which should contribute $10-$12 million of annualized revenue. These acquisitions, which include the transaction we previously

announced with Healthcare Partners, required us to deploy only approximately $7 million of capital. Although our focus remains

on repaying our debt, these small tuck-in acquisitions will remain a part of our disciplined and measured growth plan. We also

slightly raised our capital expenditure projection for the year to reflect some additional investment we will be making in California

to build capacity necessary to service the expanded demand we have been experiencing for our services."

Conference Call for Today

Dr. Howard Berger, President and Chief Executive

Officer, and Mark Stolper, Executive Vice President and Chief Financial Officer, will host a conference call to discuss its second

quarter 2014 results on Friday, August 8th, 2013 at 7:30 a.m. Pacific Daylight Time (10:30 a.m. Eastern Daylight Time).

Conference Call Details:

Date: Friday, August 8, 2014

Time: 10:30 a.m. EDT

Dial In-Number: 800-946-0712

International Dial-In Number: 719-325-4764

It is recommended that participants dial in

approximately 5 to 10 minutes prior to the start of the 10:30 a.m. call. There will also be simultaneous and archived webcasts

available at http://public.viavid.com/index.php?id=110348 or http://www.radnet.com under the "About RadNet" menu section

and "News & Press Releases" sub-menu of the website. An archived replay of the call will also be available and

can be accessed by dialing 877-870-5176 from the U.S., or 858-384-5517 for international callers, and using the passcode 9939359.

Regulation G: GAAP and Non-GAAP Financial

This release contains certain financial information

not reported in accordance with GAAP. The Company uses both GAAP and non-GAAP metrics to measure its financial results. The Company

believes that, in addition to GAAP metrics, these non-GAAP metrics assist the Company in measuring its cash-based performance.

The Company believes this information is useful to investors and other interested parties because it removes unusual and nonrecurring

charges that occur in the affected period and provides a basis for measuring the Company's financial condition against other quarters.

Such information should not be considered as a substitute for any measures calculated in accordance with GAAP, and may not be comparable

to other similarly titled measures of other companies. Non-GAAP financial measures should not be considered in isolation from,

or as a substitute for, financial information prepared in accordance with GAAP. Reconciliation of this information to the most