Rochester, N.Y.-based Borg Imaging will be acquired by Los Angeles-based RadNet in an $11.7 million cash deal, with an additional agreement by Radnet to assume $1 million in debt to obtain Borg's six imaging centers. The buyout is expected to be completed this week.
“This acquisition represents our first acquisition of a multi-facility operator in one of our core markets since our acquisition of Radiologix in November of last year. For the last 25 years, Borg has been a well recognized, high-quality imaging provider in the Rochester medical community. The merger of the Borg and IDE professional groups creates the clear leader in outpatient radiology services in this market,” said Howard Berger, president, CEO of RadNet.