Core Insights - RadNet, Inc. has acquired the outpatient imaging assets of Northwest Radiology Network, marking its entry into Indiana and expanding its presence in the Midwest [1][2][3] - The acquisition includes six multimodality outpatient centers located in the greater Indianapolis area, particularly in Carmel, which has been recognized for its livability [2] - The deal is expected to generate approximately $18 million in annual revenue for RadNet [3] Company Overview - RadNet, Inc. is a leading provider of outpatient diagnostic imaging services in the U.S., with a network of imaging centers across multiple states including Indiana [4] - The company also offers radiology information technology and AI solutions, employing over 12,000 team members [4] Northwest Radiology Network Overview - Northwest Radiology Network is a physician-led practice established in 1967, serving the Indianapolis area with a focus on high-quality imaging services [5] - The practice offers a wide range of diagnostic services, including MRI, CT, and mammography, and emphasizes collaboration with referring providers [5]

Financial Performance - Q1 2025 - Revenue increased by 13%, driven by organic growth in both Government Operations and Commercial Operations[7, 9, 10] - Adjusted EBITDA increased by 13%, and Non-GAAP EPS increased by 20% due to higher operating earnings and a lower tax rate[7, 10] - Free Cash Flow was $17 million in 1Q25[10] Segment Performance - Q1 2025 - Government Operations revenue grew by 14% (13% organic), leading to an adjusted EBITDA margin of 21.1%[7] - Commercial Operations revenue grew by 10%, driven by double-digit medical growth and solid commercial power growth[7] Backlog and Acquisitions - Commercial Operations backlog increased by 39% Q/Q and 78% Y/Y to $1.3 billion, mainly due to the Pickering Life Extension steam generator contract[7] - The acquisition of Kinectrics, Inc, is expected to close mid-year, enhancing service offerings to nuclear power and medical markets[7] 2025 Outlook - The company reaffirms its 2025 Adjusted EPS guidance of $3.40-$3.55[6] - Revenue is projected to be approximately $3.0 billion, with growth in both Government and Commercial Operations[7, 17] - Adjusted EBITDA is expected to be between $550 million and $570 million, including contributions from AOT and the pending Kinectrics acquisition[7, 17]