InSight enters joint venture

October 13, 1999

Imaging services provider InSight Health Services has entered into a radiology cosourcing joint venture with St. Rose Dominican Hospital, part of the Catholic Healthcare West system, and Radiology Associates of Nevada (RAN), a group of 24 board-certified

Imaging services provider InSight Health Services has entered into a radiology cosourcing joint venture with St. Rose Dominican Hospital, part of the Catholic Healthcare West system, and Radiology Associates of Nevada (RAN), a group of 24 board-certified radiologists. The three entities will operate Parkway Imaging Center, a 5800-square-foot multimodality facility located within St. Rose’s Parkway Medical Plaza in Henderson, NV.

InSight of Newport Beach, CA, expects Parkway to complement its existing multimodality imaging center in Las Vegas, InSight Mountain Diagnostics (IMD). The company chose to partner with St. Rose and RAN since RAN serves St. Rose, IMD, and Parkway.

In other InSight news, the company recorded a 36.1% increase in revenues during its 1999 fiscal year (end-June). Revenues climbed to $162 million, compared with $119 million last year. Net income was $6.1 million, compared with $512,000 in fiscal 1998.

Fourth quarter results were also strong. The firm had revenues of $44.4 million, up 23.7% compared with the $33.9 million posted last year. Net income was $1.9 million, down slightly from $2 million posted in 1998.