Press Release dated

RadNet Reports First Quarter Financial Results and Adjusts

Upwards Several 2014 Guidance Ranges

California, May 9, 2014 - RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site

outpatient diagnostic imaging services through a network of 250 owned and/or operated outpatient imaging centers, today reported

financial results for its first quarter of 2014.

Dr. Howard Berger, President and Chief

Executive Officer of RadNet, commented, "We overcame significant obstacles during the first quarter, including the most severe

winter weather conditions we faced in the last decade and the impact beginning January 1st of the previously estimated

$22 million of annual Medicare cuts. We estimate that these factors negatively impacted us by between $8 million and $10 million

of revenue and between $5 million and $7 million of Adjusted EBITDA(1) during the quarter. I'm proud that the

early success of the $30 million cost savings initiatives we announced late last year enabled us to more than mitigate these headwinds.

Our Adjusted EBITDA(1) increased by 8.2% over last year's first quarter, and our Adjusted EBITDA(1)

margin increased 160 basis points over the same time period."

Dr. Berger continued, "Besides cost

reduction measures, also contributing to our strong performance in the quarter were robust procedural volumes outside of our northeast

operations. We are beginning to benefit from the more than 8 million new patients as of March 31, 2014 who entered the healthcare

delivery system as part of the state sponsored and privately managed healthcare exchanges. California alone, our largest market,

benefited from over 1.4 million new healthcare enrollees. In California, we drove same-center revenue increases of slightly over

4% as compared to the first quarter of 2013. This performance and strong procedural volumes in all of our geographies throughout

March, April and into May give me encouragement and confidence about the remainder of 2014. As a result, we have revised our 2014

guidance upwards for several of our financial metrics."

For the first quarter of 2014, RadNet reported

Revenue of $168.9 million, Adjusted EBITDA(1) of $27.7 million and Net Loss (excluding the tax adjusted loss on extinguishment

of debt) of $1.1 million, respectively. Revenue decreased $4.1 million (or 2.4%), Adjusted EBITDA(1) increased

$2.1 million (or 8.2%) and Net Loss (excluding the tax adjusted loss from the extinguishment of debt) decreased $0.3 million, respectively,

over the first quarter of 2013. Per share Net Loss (excluding the tax adjusted loss from the extinguishment of debt) for the first

quarter was $(0.03), compared to a loss in the first quarter of 2013 of $(0.03) (based upon a weighted average number of basic

and diluted shares outstanding of 40.0 million and 39.3 million for these periods in 2014 and 2013, respectively).

Affecting Net Loss in the first quarter

of 2014 were certain non-cash expenses and non-recurring items including: $1.0 million of non-cash employee stock compensation

expense resulting from the vesting of certain options, restricted stock and warrants; $481,000 of severance paid in connection

with headcount reductions related to cost savings initiatives; $246,000 loss on the sale of certain capital equipment; $1.8 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 $15.5 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.

Aggregate and same-center procedural volumes

were negatively impacted from the sever east coast weather conditions. For the first quarter of 2014, as compared to the prior

year's first quarter, MRI volume decreased 0.7%, CT volume was flat and PET/CT volume decreased 2.7%. Overall volume, taking

into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other exams, decreased 0.4% over the prior

year's first quarter. On a same-center basis, including only those centers which were part of RadNet for both the first quarters

of 2014 and 2013, MRI volume decreased 0.8%, CT volume decreased 1.2% and PET/CT volume decreased 2.7%. Overall same-center volume,

taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other exams, decreased 1.1% over the

prior year's same quarter.

Refinancing Transaction

On March 25, 2014, the Company completed

an amendment of, and $30 million increase to its existing senior secured first lien credit facility and entered into a new senior

secured $180 million second lien term loan facility.

Proceeds from the increase to the first

lien term loan and the new second lien term loan were used in part to finance the payment of total consideration payable to holders

of RadNet Management's $200.0 million in aggregate principal amount of 10 3/8% Senior Notes due 2018.

Mark Stolper, Executive Vice President

and Chief Financial Officer noted, "Our recent refinancing will result in lower cash interest obligations of approximately

$5.1 million per year. Additionally, the refinancing provides us with more operating flexibility and lengthens the maturity of

our most junior debt capital."

"We face no near-term maturities.

As a result of the refinancing transaction, our first lien term loan matures in 2018 and our new second lien term loan matures

in 2021. This allows our management focus to be dedicated to operating our business and driving strategic initiatives," added

2014 Guidance Update

RadNet updates the previously announced 2014 fiscal year guidance

Dr. Berger highlighted, "We are focused

on repaying debt and generating free cash over the next 12 months. From April 1st of this year through March 31, 2015,

we will repay over $26 million of our first lien term loan and capital lease debt. Having aggressively invested in our center-level

assets throughout the past 5 years, we estimate our capital expenditures will be reduced to $25 million to $35 million over this

same period. Furthermore, we have identified over $10 million of additional cost savings measures from certain additional programs

such as revenue cycle management and billing and collection initiatives and from the renegotiation of equipment service and vendor

contracts. Hence, free cash flow generation should be extremely strong between now and the end of next year's first quarter."

Dr. Berger added, "Although tuck-in

acquisitions at multiples of three to four times EBITDA of multimodality operations in our core markets remain part of our strategy,

we do not anticipate at this time deploying significant capital to affect these transactions in the coming months. Instead, our

focus continues to be preserving RadNet as the cost-efficient, highest quality provider in the marketplace. Growth will come mainly

from driving more patient volume through existing centers, additional capitation contracts and more joint venture relationships,

such as what we recently announced with Kennedy Health System, with hospitals and healthcare systems. We are also working more

closely with private payors who are interested in directing their patients to lower cost, non-hospital imaging settings. Finally,

as part of our eRAD implementation, expected to be complete by this time in 2015, we recognized approximately $1.8 million of Meaningful

Use government incentives during the quarter. We expect to receive up to an additional $6 million over the next three years from

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 first quarter 2014 results on Friday, May 9th, 2013 at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Daylight Time).

Conference Call Details:

Date: Friday, May 9, 2014

Time: 10:30 a.m. EDT

Dial In-Number: 888-850-2545

International Dial-In Number: 719-325-2325

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=109015 or http://www.radnet.com under the "Investors" menu section

and "News 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 9321285.

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.