RadNet Inc (NASDAQ:RDNT) shares rose 3% to $71.91 in premarket trading on Monday after the U.S.-based imaging services provider announced plans to acquire French radiology artificial intelligence company Gleamer in an all-cash deal valued at up to €230 million ($270 million).
The transaction will position RadNet’s DeepHealth division as the largest global supplier of clinical radiology AI solutions, with a customer base exceeding 2,700 organisations across more than 50 countries, the company said.
Founded in 2017, Gleamer is projected to generate approximately $30 million in annual recurring revenue by 2026. RadNet noted that the company’s AI platform currently supports more than 25 clinical imaging applications.
According to RadNet, integrating Gleamer’s technology is expected to help alleviate shortages of radiologists while improving workflow efficiency and reducing costs, with benefits anticipated by the third quarter of 2026.
The two companies plan to showcase their combined product pipeline at this week’s European Congress of Radiology in Vienna.