RadNet's (RDNT) deal to acquire iCAD (ICAD) will complement its breast and digital health services, Truist Securities said in a Thursday research report.
The deal is expected to grow RadNet's commercial team and geographical outreach through access to iCAD's installed base of over 1,500 healthcare provider locations, the firm said.
The acquisition is expected to result in almost $7 million of run-rate cost synergies and increase the company's reach to nearly 10 million mammograms annually, presenting a lucrative cross-sell opportunity, according to the analysts.
Truit Securities reiterated its buy rating on the stock and maintained its 12-month price target of $74 per share.
Price: 50.01, Change: -0.52, Percent Change: -1.02
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