RadNet Reports Second Quarter Financial Results and Reaffirms Previously Announced 2015 Guidance Levels Total Net Revenue ("Revenue") increased 14.1% to $204.3 million in the second quarter of 2015

RadNet Reports Second Quarter Financial Results and Reaffirms

Previously Announced 2015 Guidance Levels

California, August 10, 2015 - RadNet, Inc. (NASDAQ: RDNT), a national leader in providing

high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 276 owned and/or operated

outpatient imaging centers, today reported financial results for its second quarter of 2015.

Dr. Howard Berger, President and Chief Executive

Officer of RadNet, commented, "We are very pleased with the improvement in our second quarter performance relative to our

financial results in the first quarter. All of our operating metrics increased during the quarter, including Revenue, Adjusted

EBITDA(1), Net Income and procedural volumes. Most notably, our operating expense ratio improved significantly, dropping

from 92.9% of Revenue in the first quarter of this year to 86.1% in this second quarter."

Dr. Berger continued, "In particular,

the investments we made during the end of last year and into this second quarter of this year are beginning to pay dividends. Higher

patient volumes necessitated these investments. Our capitation business, which included the implementation of a new contract in

this year's second quarter, has increased over 35% from last year's second quarter. The investments we made have grown

our capacity to service larger patient volumes in many of our California markets."

"This year, we expanded our call centers,

pre-authorization teams and patient service coordinators, implemented a variety of information technology systems (like eRAD, time

and attendance, payroll and human resources systems) and constructed new facilities. We also purchased facilities in key markets

where we had little or no coverage previously. The results of many of these investments improved our service levels and financial

results in the second quarter. I expect this improvement to continue. Even though we lowered our operating expense ratio from the

first quarter of 2015, we are striving to decrease this ratio to last year's operating levels. This can be accomplished through

growing revenues in existing facilities, leveraging the capacity and investments we have recently made. Historically, once we have

built capacity at our sites, future incremental patient volumes result in substantially more Adjusted EBITDA(1) and

Dr. Berger added, "Aside from the organic

growth we are experiencing, I am excited about initiatives we have recently completed with two major health systems. On Friday,

we announced an extensive expansion of our existing joint venture with Barnabas Health in New Jersey. As part of the transaction,

Barnabas Health and RadNet are selling our respective wholly owned imaging facilities to the joint venture, and we will be pursuing

a state-wide growth and consolidation strategy. Pending its merger with Robert Wood Johnson Health System, Barnabas Health will

be the leading health system in New Jersey and will have $4.5 billion in annual Revenue. Our transaction with the Barnabas Health

joint venture brings $35.5 million of new capital into RadNet and has significant other financial and strategic benefits. In addition,

last week, we established a new joint venture with Lifebridge Health, one of the leading hospital systems in the Baltimore, Maryland

and surrounding areas. In conjunction with establishing the new joint venture, we sold to Lifebridge a 25% interest in two of our

imaging centers for $5 million and the potential for further cash consideration should certain financial targets be met. I believe

there are considerable opportunities to grow this new venture and benefit from the reach Lifebridge has in the communities surrounding

its medical centers, including opportunities for growth with its owned and affiliated medical groups."

"These partnerships and others to come

will be a key part of RadNet's strategic direction and continue to validate our model of providing regionally concentrated,

high quality multi modality imaging services to large patient populations. We believe that we remain an attractive partner to any

hospital, health system or Accountable Care Organization seeking a broad array imaging expertise," finished Dr. Berger.

Second Quarter Financial Results

For the second quarter of 2015, RadNet reported

Revenue of $204.3 million, Adjusted EBITDA(1) of $33.5 million and Net Income of $3.4 million, respectively. Revenue

increased $25.2 million (or 14.1%), Adjusted EBITDA(1) increased $0.1 million (or 0.4%) and Net Income decreased

$1.7 million, respectively, over the second quarter of 2014. Per share Net Income for the second quarter

was $0.08, compared to per share Net Income in the second quarter of 2014 of $0.12 (based upon a weighted average number of diluted

shares outstanding of 44.7 million and 43.3 million for these periods in 2015 and 2014, respectively).

Affecting Net Income

in the second quarter of 2015 were certain non-cash expenses and non-recurring items including: $2.0 million of non-cash employee

stock compensation expense resulting from the vesting of certain options and restricted stock; $94,000 of severance paid

in connection with headcount reductions related to cost savings initiatives; $74,000 loss on the sale of certain capital equipment;

and $1.4 million of non-cash amortization of Deferred Financing Expense and discount on debt issuances.

For the second quarter of 2015, as compared

with the prior year's second quarter, MRI volume increased 17.9%, CT volume increased 26.6% and PET/CT volume increased 11.0%.

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

15.5% 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 2015 and 2014, MRI volume increased 9.0%, CT volume increased 21.0% and PET/CT volume increased

4.0%. Overall same-center volume, taking into account routine imaging exams, inclusive of x-ray, ultrasound, mammography and other

exams, increased 7.6% over the prior year's same quarter.

Six Month Financial Results

For the six months ended June 30, 2015, RadNet

reported Revenue, Adjusted EBITDA(1) and Net Loss of $385.6 million, $53.7 million and $(1.2) million, respectively.

Revenue increased $37.6 million (or 10.8%), Adjusted EBITDA(1) decreased $7.3 million (or 12.0%) and Net

Income decreased $4.8 million (excluding the tax adjusted loss on extinguishment of debt in the six month period of 2014), respectively,

over the first six months of 2014. Net Loss Per Share for the six month period ended June 30, 2015 was

$(0.03) per diluted share, compared to Net Income of $0.09 per diluted share in corresponding six month period of 2014 (also

excluding the tax adjusted loss on extinguishment of debt during the first six months of 2014) based

upon a weighted average number of fully diluted shares outstanding of 43.1 million and 42.2 million for these periods in 2015 and

2014, respectively).

results in the six months ended June 30, 2015 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; $130,000 of severance paid in connection with headcount reductions related to cost savings initiatives;

$36,000 loss on the sale of certain capital equipment; and $2.6 million of non-cash amortization of

Deferred Financing Expense and discount on debt issuances.

2015 Guidance Update

RadNet reaffirms the previously announced 2015 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 2015 results on Monday, August 10th, 2015 at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time).

Conference Call Details:

Date: Monday, August 10, 2015

Time: 10:30 a.m. Eastern Time

Dial In-Number: 888-505-4375

International Dial-In Number: 719-325-2448

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=115820 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 7817070.

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.