June 17, 2009 (FinancialWire) — RadNet, Inc. (NASDAQ: RDNT) has closed acquisition of substantially all of the assets of nine imaging centers in New Jersey from Medical Resources for $2.1 million.

Simultaneously, RadNet announced that it has sold the only acquired facility located in Southern New Jersey, along with some legacy image management systems, to Tristate Imaging for $650,000. This facility, called South Jersey MRI in Vineland, New Jersey, is a single modality open MRI facility and was the only Medical Resource facility that was not in a market contiguous with any other RadNet centers.

As part of the purchase price, RadNet acquired a building in Union, New Jersey that houses one of the imaging centers. RadNet plans to sell the building, which in addition to the $650,000 of proceeds received from the sale of South Jersey MRI, will further lower RadNet’s net purchase price of the transaction.

RadNet, Inc. is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of 175 fully-owned and operated outpatient imaging centers. RadNet’s core markets include California, Maryland, Delaware, New Jersey and New York.

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