Healthcare Insights
Largest imaging center corporations in the U.S.
The medical imaging market is one of the fastest-growing and most profitable segments of the healthcare industry year-over-year. In fact, the medical imaging market is estimated to be worth $35B by 2026, according to a recent study by MarketsandMarkets.
There are multiple factors that could be contributing to this growth, including the launch of new and innovative equipment, an increase in demand for preventative diagnostic screenings, and an increasing population of older adults in the U.S.
What is an imaging center corporation?
Large radiology firms like RadNet or Touchstone Medical Imaging are known as imaging center corporations. These companies own and operate dozens or hundreds of outpatient diagnostic imaging centers across their sales territories through corporate acquisition.
Big medical imaging corporations are noticing shifts in the market and are making moves to stay ahead of (and even capitalize on) these changes. Many corporations, such as the ones listed below, are investing in and acquiring new diagnostic imaging centers, which can likely lead to even more innovation.
Using the Definitive Healthcare ImagingView product, we ranked the top 10 largest imaging center corporations by the number of member centers within their network.
| Rank | Imaging Center Name | City | State | Definitive ID | Number of Member Imaging Centers | Explore dataset |
|---|---|---|---|---|---|---|
| 1 | RadNet | Los Angeles | CA | 807988 | 304 | Explore |
| 2 | Akumin | Plantation | FL | 925015 | 140 | Explore |
| 3 | RAYUS Radiology | St Louis Park | MN | 808032 | 135 | Explore |
| 4 | The US Oncology Network | The Woodlands | TX | 1034919 | 126 | Explore |
| 5 | SimonMed Imaging | Scottsdale | AZ | 822597 | 114 | Explore |
| 6 | GenesisCare | Fort Myers | FL | 929397 | 110 | Explore |
| 7 | Solis Mammography | Addison | TX | 822657 | 95 | Explore |
| 8 | Lenox Hill Radiology | New York | NY | 829014 | 76 | Explore |
| 9 | Touchstone Medical Imaging | Plano | TX | 822732 | 63 | Explore |
| 10 | Texas Oncology | Dallas | TX | 954985 | 63 | Explore |
Fig. 1 Data is from the Definitive Healthcare ImagingView product. Data is proprietary and accessed in June 2023.
Which medical imaging company owns the most imaging centers?
California-based RadNet ranks first on our list, with 304 imaging center members primarily in California as well as Delaware, Florida, Maryland, and New York. In addition, according to their website, RadNet completes more than 9 million outpatient imaging procedures annually, making it one of the largest corporations of its kind in the country.
The corporation with the second most imaging centers is Akumin, based out of Plantation, Florida. This corporation has 145-member imaging centers across more than 15 states and is an accredited facility by the American College of Radiology.
Rounding out the top three is RAYUS Radiology, based out of St. Louis Park, Minnesota with 136 imaging center members across 16 states. In addition, RAYUS Radiology captures over 1.2 million images every year.
The ten corporations on this list have a total of 1,226 member imaging centers, which accounts for about 25% of all imaging centers that belong to a corporation tracked using ImagingView.
What is an imaging exam?
An imaging exam is a type of test that makes detailed pictures of areas inside a patient’s body.
Traditional diagnostic imaging tests include mammograms, MRIs, and CT scans which are all painless, noninvasive approaches to creating multiple cross-sectional images of a patient’s body. Physicians then use these images to make more accurate diagnoses and more effectively treat medical conditions.
What is radiology?
Radiology is a branch of medicine that uses medical imaging to diagnose and treat disease. Radiologists, physicians who practice radiology, usually operate out of diagnostic imaging centers.
When you think about radiology, it’s likely that “radiation” is the first thing that comes to mind. And while radiology may use radiation in some tests, this isn’t always the case. X-rays, one of the most common imaging tests, uses low-dose radiation to produce images of the bones and joints. Ultrasounds, however, use high-frequency sound waves to create images of various structures within the body without the need for radiation.
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