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RadNet's Wholly-Owned Subsidiary, DeepHealth, Completes Acquisition of iCAD Acquisition contributes iCAD's commercial, technology, and regulatory capabilities The acquisition positions DeepHealth with an industry-leading

Key Takeaway: RadNet's subsidiary, DeepHealth, has completed the acquisition of iCAD, enhancing its offerings in AI-powered breast cancer solutions. This acquisition is expected to bolster DeepHealth's commercial, technological, and regulatory capabilities, facilitating growth in cancer screening and diagnostics. The integration aims to improve breast cancer detection rates and workflow efficiency while expanding access across over 1,500 healthcare locations globally. Although the acquisition presents significant opportunities, it also contains risks related to integration and operational challenges.

Market Sentiment Analysis

POSITIVE FACTORS

  • DeepHealth enhances its technology and commercial capabilities through the acquisition of iCAD.
  • The acquisition supports the rollout of AI-powered breast cancer screening and diagnostic technologies.
  • DeepHealth aims to improve accuracy and early detection of breast cancer, benefiting communities worldwide.

CONCERNS & RISKS

  • There are inherent risks and uncertainties in realizing the anticipated benefits of the acquisition.
  • Challenges related to integration and achieving synergies could affect the acquisition's success.
  • Potential risks include maintaining customer relationships and managing operational complexities during integration.

Full Press Release Details

RadNet's Wholly-Owned Subsidiary, DeepHealth, Completes Acquisition
Acquisition contributes iCAD's commercial, technology, and regulatory capabilities
The acquisition positions DeepHealth with an industry-leading suite of AI-powered breast cancer image interpretation and workflow solutions
The combination is expected to provide acceleration of AI adoption and expanded worldwide access to advanced breast cancer screening and diagnosis technologies
Los Angeles, CA - July 17, 2025, RadNet, Inc. (NASDAQ:
RDNT) ("RadNet"), a national leader in providing high-quality, cost-effective diagnostic imaging services and digital health
solutions, announced today that it has completed the acquisition of iCAD, Inc. (NASDAQ: ICAD) ("iCAD"), a global leader in
AI-powered breast health solutions. The integration of iCAD's complementary commercial, technology, and regulatory capabilities into DeepHealth
advances DeepHealth's mission to address clinical and operational challenges in screening and diagnosis by harnessing the power
Kees Wesdorp, President and CEO of RadNet's Digital Health segment,
commented, "We are excited to welcome the iCAD team to DeepHealth. The integration of iCAD further empowers DeepHealth to meet the
real-world clinical needs of today, from improving the accuracy and early detection of breast cancer to orchestrating large-scale screening
programs, while shaping the future of breast cancer management. Our combined capabilities position us for accelerated growth and rapid
delivery of transformative, AI-powered population health solutions."
iCAD's extensive AI portfolio-including breast cancer detection,
risk evaluation, breast density, and breast arterial calcification assessment-is deployed in more than 50 countries. This portfolio
will be integrated with DeepHealth's end-to-end screening and diagnostic solutions, further improving both cancer detection rates
and workflow efficiency. By uniting complementary technologies and datasets, the combined portfolio can further enhance AI model performance
and enable the delivery of a comprehensive suite of AI-powered image interpretation and workflow solutions that address real-world clinical
needs across the cancer screening and detection pathways.
With expanded market access through iCAD's installed base of over 1,500
healthcare provider locations worldwide, this strategic acquisition enables DeepHealth to scale its impact to over 10 million mammograms
annually. This global reach aims to accelerate AI adoption and screening compliance by bringing advanced AI-powered solutions to communities
around the world, including those that are underserved.
RadNet, Inc. is a leading national provider of freestanding, fixed-site
diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of
401 owned and/or operated outpatient imaging centers. RadNet's imaging center markets include Arizona, California, Delaware, Florida,
Maryland, New Jersey, New York and Texas. In addition, RadNet provides radiology information technology and artificial intelligence solutions
marketed under the DeepHealth brand, teleradiology professional services and other related products and services to customers in the diagnostic
imaging industry. Together with contracted radiologists, and inclusive of full-time and per diem employees and technologists, RadNet has
a total of over 11,000 employees. For more information, visit http://www.radnet.com.
DeepHealth is a wholly-owned subsidiary of RadNet, Inc. (NASDAQ: RDNT)
and serves as the umbrella brand for all companies within RadNet's Digital Health segment. DeepHealth provides AI-powered health
informatics with the aim of empowering breakthroughs in care through imaging. Building on the strengths of the companies it has integrated
and is rebranding (e.g., eRAD Radiology Information and Image Management Systems and Picture Archiving and Communication System, Aidence
lung AI, DeepHealth, Kheiron, and iCAD breast AI, Quantib prostate and brain AI, and See-Mode thyroid and breast AI), DeepHealth leverages
advanced AI for operational efficiency and improved clinical outcomes in lung, breast, prostate, and brain health. At the heart of DeepHealth's
portfolio is a cloud-native operating system - DeepHealth OS - that unifies data across the clinical and operational workflow
and personalizes AI-powered workspaces for everyone in the radiology continuum. Thousands of radiologists at hundreds of imaging centers
and radiology departments around the world use DeepHealth solutions to enable earlier, more reliable, and more efficient disease detection,
including in large-scale cancer screening programs. DeepHealth's human-centered, intuitive technology aims to push the boundaries
of what's possible in healthcare. https://deephealth.com/
Executive Vice President and Chief Financial Officer
Director of Communications
Forward-Looking Statements
This communication contains certain "forward-looking statements"
within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified
by words such as: "anticipate," "believe," "could," "estimate," "expect,"
"forecast," "intend," "may," "outlook," "plan," "potential," "possible,"
"predict," "project," "seek, "should," "target," "will" or "would,"
the negative of these words, and similar references to future periods. Examples of forward-looking statements include statements regarding
the anticipated benefits of the acquisition, the impact of the acquisition on RadNet's business and future financial and operating
results and prospects and the amount and timing of synergies from the acquisition are based on the current estimates, assumptions and
projections of RadNet, and are qualified by the inherent risks and uncertainties surrounding future expectations generally, all of which
are subject to change. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties,
many of which are beyond RadNet's control.
Forward-looking statements are neither historical facts nor assurances
of future performance. Instead, they are based only on management's current beliefs, expectations and assumptions regarding the
future of RadNet's business, future plans and strategies, projections, anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict and many of which are outside of RadNet's control. RadNet's actual results and
financial condition may differ materially from those indicated in the forward-looking statements as a result of various factors. None
of RadNet, iCAD or any of their respective directors, executive officers, or advisors, provide any representation, assurance or guarantee
that the occurrence of the events expressed or implied in any forward-looking statements will actually occur, or if any of them do occur,
what impact they will have on the business, results of operations or financial condition of RadNet. Should any risks and uncertainties
develop into actual events, these developments could have a material adverse effect on RadNet's business and the ability to realize
the expected benefits of the acquisition. Risks and uncertainties that could cause results to differ from expectations include, but are
not limited to: (1) the ability to recognize the anticipated benefits of the acquisition, which may be affected by, among other things,
the ability of RadNet or iCAD to maintain relationships with its customers, patients, payers, physicians, and providers and retain its
management and key employees, (2) the ability of RadNet to achieve the synergies contemplated by the acquisition or such synergies taking
longer to realize than expected, (3) costs related to the acquisition, (4) the ability of RadNet to execute successfully its strategic
plans, (5) the ability of RadNet to promptly and effectively integrate iCAD into its business, (6) the risk of litigation related to the
acquisition, (7) the diversion of management's time and attention from ordinary course business operations to integration matters,
(8) the risk of legislative, regulatory, economic, competitive, and technological changes. The foregoing review of important factors should
not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included elsewhere. Additional
information concerning risks, uncertainties and assumptions can be found in RadNet's filings with the Securities and Exchange Commission
(the "SEC"), including the risk factors discussed in RadNet's most recent Annual Report on Form 10-K, as updated by
its Quarterly Reports on Form 10-Q and future filings with the SEC.
Forward-looking statements included herein are made only as of the
date hereof and, except as required by applicable law, RadNet does not undertake any obligation to update any forward-looking statements,
or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies
or omissions in them which become apparent. All forward-looking statements in this communication are qualified in their entirety by this
cautionary statement.

Frequently Asked Questions

What recent acquisition did RadNet complete?

RadNet has completed the acquisition of iCAD, Inc.

How will DeepHealth benefit from the acquisition?

The acquisition enhances DeepHealth's AI-powered solutions for breast cancer screening.

What does iCAD specialize in?

iCAD specializes in AI-powered breast health solutions.

How many mammograms can DeepHealth impact annually?

DeepHealth aims to impact over 10 million mammograms each year.

What is the focus of DeepHealth's technology?

DeepHealth focuses on improving operational efficiency and clinical outcomes.

Last updated: Jul 17, 2025