RadNet Acquires a Controlling Interest in Heart & Lung Imaging Limited, a London-Based ...
RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, today reported it has acquired a 75% interest in London-based Heart & Lung Imaging Limited
LOS ANGELES, Nov. 01, 2022 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services, today reported it has acquired a 75% interest in London-based Heart & Lung Imaging Limited (“Heart&Lung Health” or “HLH”).
HLH was founded to improve lung cancer outcomes through early detection and accurate diagnosis. HLH’s unique United Kingdom-wide network of over 70 expert cardiothoracic radiologists provides specialist reporting services for the UK’s National Health Service (NHS) as well as a variety of hospitals and academic institutions. Of particular note, HLH has established itself as the leading provider of lung cancer screening reporting services to the NHS England Targeted Lung Health Check (TLHC) program. Under the TLHC program, patients aged 55-74 who have ever smoked are being screened through low dose CT for lung cancer and related lung diseases. In September 2022, the success of the TLHC program paved the way for the UK National Screening Committee to recommend that population-based targeted screening of lung cancer be introduced for high-risk patients across all four nations of the UK. While this program is at the beginning of its roll-out stage, it is anticipated that it could drive over one million lung scans in England alone when the program becomes fully implemented, which is targeted by the end of 2026.
As part of the TLHC roll-out, HLH already utilizes software from RadNet’s Netherlands-based wholly-owned subsidiary, Aidence, including pulmonary nodule management and lung cancer Artificial Intelligence (AI) screening tools. The TLHC program mandates the combined use of AI and expert radiologist interpretation as a mechanism to ensure accurate diagnosis, to reduce unnecessary patient call-backs and to determine malignancy. HLH will further team up with Aidence to provide services and expertise to continue to enhance Aidence’s future AI offerings.
Evidence shows that screening with low dose CT reduces lung cancer mortality. Currently in the UK, on an annual basis, approximately 48,000 patients are diagnosed with lung cancer each year and 35,000 patients die from this disease. A lack of screening and the prevalence of late-stage diagnoses are the principal causes of the high mortality rate and poor patient outcomes.
