RadNet and Barnabas Health Begin Joint Venture
RadNet, Inc. and Barnabas Health announced the operational commencement of their joint venture in New Jersey with the sale of RadNet’s West Orange, NJ, imaging center to Barnabas Health and the establishment of the joint venture’s first owned facility in Cedar Knolls, NJ. The joint venture, The New Jersey Imaging Network, LLC, was conceived to achieve three main objectives:
  1. To establish a statewide diagnostic imaging network with 37 access points.
  2. To provide management services to existing RadNet and imaging facilities to be owned directly by the joint venture.
  3. To build or buy additional imaging centers or enter related healthcare businesses in New Jersey.
The new imaging center in Cedar Knolls will be a full-service, all-digital, multi-modality facility, and will replace RadNet’s existing Morristown location. The Cedar Knolls facility will include enhanced orthopedic imaging capabilities, as the facility will be co-located in a newly established “Musculoskeletal Center of Excellence.” RadNet, Inc. provides fixed-site diagnostic imaging services through a network of 238 owned and/or operated outpatient imaging centers (inclusive of 20 facilities held in Joint Ventures) in the United States. RadNet has a total of approximately 6,300 employees. Barnabas Health is the largest not-for-profit integrated healthcare delivery system in New Jersey, caring for more than two million patients annually, and includes 18,200 employees (the second largest private employer in New Jersey), 4,600 physicians, and 445 residents and interns.