RadNet Expands its Efforts in Artificial Intelligence
August 02 2019 - 5:00AM
RadNet, Inc. (NASDAQ: RDNT), a national leader in
providing high-quality, cost-effective, fixed-site outpatient
diagnostic imaging services today reported it has created a
division to further its efforts in Artificial Intelligence
(“A.I.”). In conjunction with this, RadNet reports it has
acquired the 75% that it did not already own of Nulogix, Inc., an
early stage company focused on creating A.I. solutions for the
radiology industry.
RadNet’s newly created A.I. division will focus
on developing, acquiring and investing in technologies that focus
on image interpretation and radiology business processes. In
addition to internally developing A.I. solutions through its newly
acquired Nulogix team, RadNet will evaluate partnering, licensing
and investing in A.I. solutions developed by others.Dr. Howard
Berger, Chairman and Chief Executive Officer of RadNet, noted,
“Artificial Intelligence will have a transformational impact on the
diagnostic imaging and radiology industry. We expect that
machine learning, big data applications and automation algorithms
will allow us to deliver our services more cost effectively,
efficiently and accurately. We are committed to supporting
technologies that make our business run in ways to advantage our
patients, joint venture partners, referring physician communities
and contracted health plans. We will demonstrate this
commitment through investing in leading-edge solutions being
developed by Nulogix and others. We are frequently being
presented with new technologies and products for us to test and
evaluate. RadNet’s position as the largest owner and operator
of fixed site diagnostic imaging centers makes us an ideal
laboratory for technologies of the future.”
Dr. Berger continued, “Today, we spend almost
20% of our globally-billed net revenue on the radiologist
interpretation of our images. If A.I. were to lower the cost
of image interpretation by making our affiliated radiologists more
productive and more accurate, all of RadNet’s stakeholders stand to
benefit materially.”
About RadNet, Inc.
RadNet, Inc. is the 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 335 owned and/or operated outpatient
imaging centers. RadNet's core markets include California,
Maryland, Delaware, New Jersey and New York. In addition, RadNet
provides radiology information technology solutions, teleradiology
professional services and other related products and services to
customers in the diagnostic imaging industry. Together with
affiliated radiologists, and inclusive of full-time and per diem
employees and technicians, RadNet has a total of over 8,000
employees. For more information, visit
http://www.radnet.com.
CONTACTS:
RadNet,
Inc.Mark Stolper,
310-445-2800Executive Vice
President and Chief Financial Officer
RadNet (NASDAQ:RDNT)
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