RadNet to buy ONRAD for $350 million cash, 5 million shares, up to $210 million earnout
RadNet agreed on October 26, 2026 to acquire ONRAD, Inc., a teleradiology and in-hospital radiology staffing provider, for $350 million in cash and 5 million RadNet shares, subject to customary adjustments, plus an earnout of up to $210 million tied to ONRAD's 2027 Adjusted EBITDA. RadNet says ONRAD would add $190 million to $200 million of revenue and $60 million to $65 million of Adjusted EBITDA in its first year after closing, but the deal adds cash outflow and share issuance, and closing is expected in early 2027.
Key points
- Upfront consideration of $350 million in cash and 5,000,000 shares of RadNet common stock, subject to customary adjustments and escrow holdbacks
- Earnout of up to $210 million if ONRAD meets a target Post-Closing Annual Adjusted EBITDA for the fiscal year ending December 31, 2027, payable in cash, shares or both
- RadNet expects ONRAD to add $190 million to $200 million of revenue and $60 million to $65 million of Adjusted EBITDA in its first year after closing
- Closing expected in early 2027; the Hart-Scott-Rodino waiting period has expired, and a conference call is set for 8:00 a.m. Eastern Time on October 27, 2026
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.