RadNet to Acquire iCAD in Strategic AI-Powered Breast Cancer Detection Merger

RadNet, Inc. has entered into a definitive agreement to acquire iCAD, Inc. in an all-stock transaction valued at approximately $103 million. The deal, unanimously approved by both companies’ boards, aims to expand RadNet’s AI-driven capabilities in breast cancer screening by integrating iCAD’s ProFound Breast Health Suite and global provider network into RadNet’s DeepHealth portfolio.

Under the agreement, iCAD shareholders will receive 0.0677 shares of RadNet common stock for each share of iCAD. Based on RadNet’s closing price on April 14, 2025, the transaction represents a 98% premium over iCAD’s stock price.

RadNet expects the acquisition to add more than 1,500 provider locations across over 50 countries to its AI footprint and enhance its commercialization reach through iCAD’s engineering and sales teams. The move is part of RadNet’s broader strategy to lead global efforts in AI-powered cancer screening, with a particular focus on earlier and more accurate breast cancer detection.

iCAD CEO Dana Brown said the merger will accelerate access to next-generation screening tools and streamline innovation cycles, ultimately improving clinical outcomes. Following completion, iCAD’s technologies and team will be fully integrated into RadNet’s DeepHealth division.

The transaction is anticipated to close in the second or third quarter of 2025, subject to shareholder approval and other customary conditions.