Press Release dated

Release dated August 9, 2012

RadNet Reports Second Quarter Financial Results and Reaffirms

2012 Full-Year Guidance

LOS ANGELES, California, August 9, 2012

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

fixed-site outpatient diagnostic imaging services through a network of 237 owned and/or operated outpatient imaging centers (inclusive

of 21 facilities held in Joint Ventures), today reported financial results for its second quarter of 2012.

Second Quarter Financial Results

For the second quarter of 2012, RadNet

reported Revenue, Adjusted EBITDA(1) and Net Income Attributable to RadNet, Inc. Common Stockholders ("Net Income")

of $171.7 million, $31.4 million and $2.9 million, respectively. Revenue increased $18.4 million (or 12.0%), Adjusted

EBITDA(1) increased $0.9 million (or 2.8%) and Net Income decreased $575 thousand, respectively, over the second quarter

of 2011. Net Income for the second quarter was $0.07 per diluted share, compared to a Net Income of

$0.09 per diluted share in the second quarter of 2011 (based upon a weighted average number of diluted shares outstanding of 39.4

million and 39.8 million for these periods in 2012 and 2011, respectively). Excluding a $1.7 million gain (or $0.04 per share)

from property and casualty insurance settlement proceeds in the second quarter of 2011 from the disposal

of imaging center assets in California, Net Income increased from $0.05 per share to $0.07 per share in the second quarter of 2012.

On a sequential basis, comparing the second quarter's performance in 2012 with the first quarter

of 2012, Revenue increased $3.2 million, Adjusted EBITDA(1) increased $2.3 million

and Net Income increased $3.1.

results in the second quarter of 2012 were certain non-cash expenses and non-recurring items including: $531,000 of non-cash employee

stock compensation expense resulting from the vesting of certain options and warrants; $163,000 of severance paid in connection

with headcount reductions related to cost savings initiatives from previously announced acquisitions; $276,000 loss on the disposal

of certain capital equipment; $771,000 of non-cash Deferred Financing Expense related to the amortization

of financing fees paid as part of our existing credit facilities; and $1.2 million fair value gain from our interest rate swaps,

net of the amortization of an Accumulated Comprehensive Loss existing prior to April 6, 2010.

For the second quarter of 2012, as compared

to the prior year's second quarter, MRI volume increased 18.8%, CT volume increased 19.6% and PET/CT volume increased 10.3%.

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

14.5% 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 2012 and 2011, MRI volume increased 2.3%, CT volume increased 3.2% and PET/CT volume decreased

5.1%. Overall same-center volume, taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other

exams, increased 0.8% over the prior year's same quarter.

Dr. Howard Berger, President and Chief

Executive Officer of RadNet, commented "We are pleased with our second quarter results. While we achieved modest same center

volume growth of 0.8% as compared to last year's second quarter, our performance remains extraordinary in a healthcare environment

that is challenged with decreased physician office visits and efforts to lower the utilization of imaging services. Furthermore,

on a sequential basis, comparing our second quarter 2012 results with those of our first quarter, our Revenue, EBITDA and Net Income

showed marked improvement. We are pleased with our marketing and contracting efforts designed to increase market share and our

continuing focus on providing high quality service to our patients and referring physician communities. Because of our geographic

concentration, ability to capitate with payors and our multimodality capabilities, we continue to believe we are well positioned

for the post-reform, dynamically changing landscape of healthcare."

Dr. Berger continued, "In addition

to driving growth in aggregate Revenue and Adjusted EBITDA(1) this quarter, our focus on profitability, cost containment

and maintaining operating margins has resulted in almost $3 million of Net Income for the second quarter. We continue to believe

that the strength of our operating model and our growing scale will allow us to significantly increase profitability into the future."

"We are optimistic about our future

performance, in part, because we are in process with or have completed several recent initiatives whose benefits have yet to be

fully reflected in our financial results. First, we continue to successfully integrate the recently acquired assets from CML Healthcare

in Maryland and Rhode Island. We are on track to complete this integration by the end of 2012, and expect to benefit from additional

financial contribution from these acquired operations. Likewise, we completed the acquisition of West Coast Radiology at the beginning

of the second quarter, and will benefit from certain future consolidation opportunities in our Orange County region. Second, we

recently commenced the operations of our new joint venture with Barnabas Health in New Jersey. We anticipate recognizing the financial

contribution from management services we will be providing to our collective New Jersey assets and from our recently announced

joint venture imaging center under construction. Lastly, we anticipate completing the integration of voice recognition transcription

capabilities by year-end which will provide us significant cost savings and operational efficiencies beginning 2013," added

Six Month Financial Results

For the six months ended June 30, 2012,

RadNet reported Revenue, Adjusted EBITDA(1) and Net Income of $340.2 million, $60.5 million and $2.8 million, respectively.

Revenue increased $42.8 million (or 14.4%), Adjusted EBITDA(1) increased $4.3 million (or 7.6%) and Net Income

increased $190,000, respectively, over the first six months of 2011. Net Income for the six month period

ended June 30, 2012 was $0.07 per diluted share, compared to Net Income of $0.07 per diluted share in corresponding six month period

of 2011 (based upon a weighted average number of fully diluted shares outstanding of 39.2 million and 39.4 million for these periods

in 2012 and 2011, respectively). Excluding a $2.2 million gain (or $0.05 per share) primarily resulting from property

and casualty insurance settlement proceeds in the first half of 2011 from the disposal of imaging center assets in California,

Net Income increased from $0.02 per share to $0.07 per share in the six months of 2012.

results in the first six months of 2012 were certain non-cash expenses and non-recurring items including: $1.7 million of non-cash

employee stock compensation expense resulting from the vesting of certain options and warrants; $612,000 of severance paid

in connection with headcount reductions related to cost savings initiatives from previously announced acquisitions; $300,000 loss

on the disposal of certain capital equipment; $1.5 million of non-cash Deferred Financing Expense related

to the amortization of financing fees paid as part of our existing credit facilities; and $2.2 million fair value gain from our

interest rate swaps, net of the amortization of an Accumulated Comprehensive Loss existing prior to April 6, 2010.

RadNet reaffirms its previously announced 2012 fiscal year guidance

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 2012 results on Thursday, August 9th, 2011 at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Daylight Time).

Conference Call Details:

Date: Thursday, August 9, 2012

Time: 10:30 a.m. Eastern Time

Dial In-Number: 888-263-2786

International Dial-In Number: 913-312-1496

It is recommended that participants dial

in approximately 5 to 10 minutes prior to the start of the 10:30 a.m. call. 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 9486821.

There will also be a simultaneous live

webcast of the conference call which can be accessed under "News" in the RadNet Investor Relations section of the company

website at http://www.radnet.com/ or you may use the link audio feed and archived recording of the conference call available at

http://public.viavid.com/index.php?id=101220.

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

comparable GAAP measures is included in this release in the tables which follow.