RadNet Prices $200 Million of Senior Notes

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RadNet Inc. on Thursday announced the pricing of a $200 million offering of senior notes, proceeds of which will be used to pay down debt and complete acquisitions.

The Los Angeles provider outpatient diagnostic imaging clinics said the 10¨ü-percent senior notes will be due in 2018. They will be issued by the company’s wholly-owned subsidiary, Radnet Management Inc.

The company plans to use proceeds to pay off debt, fund previously announced acquisitions that are now under letters of intent, and increase its available cash to more than $25 million.

Radnet also will get a new $285 million loan and a $100 million secured revolving credit line.

Radnet has 180 imaging centers, primarily in California, Maryland, Delaware, New Jersey and New York.

Shares were up 16 percent, to 5 percent, to $3.34 in midday trading on the Nasdaq.

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