RadNet Reports Second Quarter Financial Results and Increases Financial Guidance Levels Revenue increased 18.3% to $----289.1 million in the second quarter of 2019 from $244.4 million in the second

RadNet Reports Second Quarter Financial Results and Increases

Financial Guidance Levels

LOS ANGELES, California, August 8, 2019

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

fixed-site outpatient diagnostic imaging services through a network of 340 owned and/or operated outpatient imaging centers,

today reported financial results for its second quarter of 2019.

Dr. Howard Berger, President and Chief

Executive Officer of RadNet, commented, "We continued the momentum we established in the first quarter of this year with

a very strong second quarter. Our Revenue increased 18.3% and our Adjusted EBITDA(1) increased 13.0% from last year's

second quarter. Our improved performance was driven by strong contributions from recent acquisitions on both coasts, new and expanded

joint ventures and overall same-center procedural volume growth of 3.5%."

Dr. Berger continued, "During the

quarter, we began the systematic integration of Kern Radiology and operationalized our second joint venture with Dignity Health

in Ventura County, California. We also continued to make progress with our performance of our East Coast capitation contract with

Emblem Health and further integrated our recently acquired Medical Arts Radiology acquisition in Long Island, New York."

"We remain excited about the prospects

for the second half of 2019 and have increased our guidance levels in anticipation of continued strength in our business. We have

also begun to set the stage for exciting potential developments that could have a material positive impact on the accuracy, speed

and cost structure of our future service offerings. Most notably, we announced the formation of our Artificial Intelligence division

along with the acquisition of the 75% of Nulogix which we did not previously own. Through this new division, we intend to research,

develop, test and invest in offerings using artificial intelligence for image interpretation and for improving our business processes,"

Second Quarter Financial Results

For the second quarter of 2019, RadNet

reported Revenue of $289.1 million and Adjusted EBITDA(1) of $43.1 million. Revenue increased $44.7 million (or 18.3%)

and Adjusted EBITDA(1) increased $5.0 million (or 13.0%) from the second quarter of last year.

For the second quarter, RadNet reported

Net Income Attributable to RadNet, Inc. Common Stockholders ("Net Income") of $4.9 million, a decrease of approximately

$507,000 over the second quarter of 2018. Adjusting for the impact of the financing transaction and legal settlements accounted

for in Other Expenses during the quarter on a tax-effected basis of $912,000 ("Adjusted Net Income"), Adjusted Net

Income was $5.8 million in the second quarter, an increase of $405,000 over the second quarter of 2018.

Per share diluted Net

Income for the second quarter was $0.10, compared to $0.11 in the second quarter of 2018 (based upon a weighted average number

of diluted shares outstanding of 50.1 million and 48.5 million for these periods in 2019 and 2018, respectively). Adjusting

for the impact of the financing transaction and legal settlements accounted for in Other Expenses during the quarter on a tax-effected

basis of $912,000, per share diluted Adjusted Net Income was $0.12 in the second quarter compared to

$0.11 in the second quarter of 2018.

Income in the second quarter of 2019 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 and restricted stock; $371,000 of severance

paid in connection with headcount reductions related to cost savings initiatives; $101,000 loss on the sale of certain capital

equipment; $1.3 million of Other Expense related to the financing transaction and legal settlements; and $973,000

of non-cash amortization of deferred financing costs and loan discount on debt issuances.

For the second quarter of 2018, as compared

with the prior year's second quarter, MRI volume increased 9.7%, CT volume increased 14.1% and PET/CT volume increased 9.0%.

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

11.4% 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 2019 and 2018, MRI volume increased 3.2%, CT volume increased 6.0% and PET/CT volume decreased

1.3%. Overall same-center volume, taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other

exams, increased 3.5% over the prior year's same quarter.

Six Month Financial Results

For the six months ended June 30, 2019,

RadNet reported Revenue of $560.6 million and Adjusted EBITDA(1) of $76.2 million. Revenue increased $84.9 million (or

17.8%) and Adjusted EBITDA(1) increased $17.0 million (or 28.7%) from the same six month period last year.

For the six month period in 2019, RadNet

reported Net Income of $1.2 million, an increase of approximately $3.1 million over the first six months of of 2018. Adjusting

for the impact of the financing transaction and legal settlements accounted for in Other Expenses during the six month period on

a tax effected basis of $912,000, Adjusted Net Income was $2.1 million in the first six months of 2019, an increase of $4.1 million

over the same period of 2018.

Per share diluted Net

Income for the first six months of 2019 was $0.02, compared to a diluted Net Loss of $(0.04) in the same six month period of 2018

(based upon a weighted average number of diluted shares outstanding of 50.0 million and 47.9 million for these periods in 2019

and 2018, respectively). Adjusting for the impact of the financing transaction and legal settlements accounted for in Other

Expenses during the six month period on a tax effected basis of $912,000, per share diluted Adjusted Net Income was $0.04 in the

first half of 2019 compared to a diluted Net Loss of $(0.04) in the same period of 2018.

Loss for the six month period of 2019 were certain non-cash expenses and non-recurring items including: $5.6 million of non-cash

employee stock compensation expense resulting from the vesting of certain options and restricted stock; $1.0 million of

severance paid in connection with headcount reductions related to cost savings initiatives; $1.3 million of Other Expense related

to the financing transaction and legal settlements; and $2.0 million of combined non-cash amortization

of deferred financing costs and loan discounts related to financing fees paid as part of our existing credit facilities.

2019 Guidance Update

RadNet amends its previously announced

guidance levels as follows:

highlighted, "Buoyed with confidence from the strong performance of the first and second quarters, we have elected to increase

our 2019 full year guidance ranges for Revenue and Adjusted EBITDA(1).

The consistent organic growth and the contribution from recent acquisitions and health system joint ventures are causing us to

exceed our initial 2019 projections. We remain optimistic about the continuation of these trends through the end of the year and

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 2019 results on Thursday, August 8th, 2019 at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time).

Conference Call Details:

Date: Thursday, August 8, 2019

Time: 10:30 a.m. Eastern Time

Dial In-Number: 888-208-1711

International Dial-In Number: 323-794-2577

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=135565

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 844-512-2921 from the U.S., or 412-317-6671

for international callers, and using the passcode 8531618.

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