RadNet Completes Debt Refinancing

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RadNet Inc. said late Tuesday that it had closed its previously announced $585 million in financing.

The Los Angeles operator of medical diagnostic imaging centers said the plan included a $285-million senior secured term loan due in 2016, a $100-million senior secured revolving credit facility due in 2015, and $200 million in senior unsecured notes due in 2018. The notes were issued by its wholly-owned subsidiary Radnet Management Inc.

RadNet said proceeds will be used to refinance existing debt and pay for the earlier announced acquisitions of Truxtun Medical Group and the New Jersey operating subsidy of Health Diagnostics.

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

Shares were up 6 cents, or nearly 2 percent, to $3.41 in midday trading on the New York Stock Exchange.

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