RadNet to Acquire iCAD for $103 Million to Advance AI-Driven Breast Cancer Detection
RadNet, Inc. (NASDAQ: RDNT), a leading provider of diagnostic imaging services and digital health solutions, has announced a definitive agreement to acquire iCAD, Inc. (NASDAQ: ICAD), a global leader in AI-powered breast health solutions, in an all-stock transaction valued at approximately $103 million.
Under the terms of the agreement, iCAD shareholders will receive 0.0677 shares of RadNet common stock for each share of iCAD common stock they own at the closing of the merger. Based on RadNet’s closing price on April 14, 2025, this equates to approximately $3.61 per iCAD share, representing a 98% premium over iCAD’s closing stock price on the same date.
This strategic acquisition aims to combine iCAD’s ProFound Breast Health Suite with RadNet’s DeepHealth AI-powered breast screening solutions, enhancing the accuracy and early detection of breast cancer. The integration is expected to expand RadNet’s reach to over 1,500 healthcare provider locations across more than 50 countries, facilitating over 8 million annual mammograms.
Dr. Howard Berger, President and CEO of RadNet, stated, “Every 14 seconds, a woman is diagnosed with breast cancer worldwide, and in the United States alone, over 42,000 women are expected to die from breast cancer during 2025. iCAD’s ProFound Breast Health Suite and RadNet’s DeepHealth AI-powered breast screening solutions, together, have the power to materially expand and improve patient diagnosis and outcomes on a global basis through further enabling accuracy and early detection.”
Dana Brown, President and CEO of iCAD, added, “As we join forces with RadNet to create a broad offering of AI-driven solutions, we have the opportunity to redefine how breast cancer and other diseases are detected and treated. Together, we will work to expand access to cutting-edge tools, accelerate innovation, and advance our product roadmaps, empowering radiologists with more precise, efficient, and scalable solutions that should ultimately improve patient care and outcomes.”
The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the second or third quarter of 2025, subject to approval by iCAD stockholders and other customary closing conditions.
Upon completion, iCAD will be integrated into RadNet’s DeepHealth portfolio, combining their respective commercial and engineering teams to accelerate growth and leadership in AI-powered cancer screening.
For more information, please visit RadNet’s official press release: RadNet to Acquire iCAD