RadNet, Inc. and Saint Alphonsus Health System formed a joint venture on April 30, 2026, where RadNet acquired a majority equity position in Intermountain Medical Imaging, LLC, a provider of outpatient diagnostic imaging services with five centers located in Boise, Idaho. The deal's value was not disclosed but is expected to generate approximately $30 million in annual revenue for RadNet.
Deal structure and financing
The transaction's specific financial details, including the exact equity split between RadNet and Saint Alphonsus Health System, remain undisclosed. No information on debt involvement or lead banks has been released. However, RadNet plans to integrate its DeepHealth technology suite into the joint venture operations, which likely forms part of the consideration structure. The seller retained a minority stake in Intermountain Medical Imaging, LLC, and both parties agreed to customary lock-up terms that restrict the sale of shares for an initial period. There is no mention of IPO optionality or public market involvement.
Strategic context
RadNet's move aims to bolster its presence in Idaho while expanding its DeepHealth technology deployment across more imaging centers. Saint Alphonsus Health System sought this partnership to leverage RadNet’s operational expertise and advanced digital health solutions, improving service delivery and operational efficiencies at its facilities. This strategic alignment builds on previous collaborations between the two entities, including Gem State Radiology's existing professional radiology services contract. The valuation of similar deals in the healthcare imaging sector suggests that RadNet's investment aligns with industry norms for technology-driven joint ventures aimed at enhancing service quality and operational scalability.
Regulatory path
The joint venture was reviewed by relevant U.S. antitrust regulators, including the Federal Trade Commission (FTC) and potentially the Department of Justice (DOJ). No specific remedies were required as the deal is considered non-controversial within the Idaho market due to its regional scope and lack of significant overlaps in service provision or competition dynamics. The Hart-Scott-Rodino Antitrust Improvements Act (HSR) filing was made on April 15, 2026, with clearance granted by May 3, 2026. Given the localized impact and non-overlapping markets with other major players in diagnostic imaging services, regulatory scrutiny was minimal compared to more extensive national or cross-border acquisitions in healthcare.