NightHawk Radiology Holdings announced Oct. 5 that it will hold an initial public offering with the intention of raising more than $86 million, according to a press release from the company’s corporate headquarters.
NightHawk Radiology Holdings announced Oct. 5 that it will hold an initial public offering with the intention of raising more than $86 million, according to a press release from the company's corporate headquarters.
The offsite/off-hours radiology interpretation service based in Coeur d'Alene, ID, will trade its common stock on the Nasdaq under the ticker symbol "NHWK."
NightHawk plans to use IPO proceedings to expand its business and pay down corporate debt. The company reported losses of nearly $8 million for the second quarter of 2005. The statement filed with the U.S. Securities and Exchange Commission did not specify the number of shares nor estimated price, however.
Morgan Stanley, Banc of America Securities, Piper Jaffray, SG Cowen & Co., and Montgomery & Co. will underwrite the IPO.
NightHawk's U.S.-trained and board-certified radiologists provide diagnostic imaging interpretations to 347 customers in 693 hospitals in the U.S. from reading facilities in Sydney, Australia, and Zurich, Switzerland.
The company's move will help improve patient care by having nighttime readings performed by radiologists who are awake in Sydney or Zurich, said Dr. William G. Bradley, professor and chair of radiology at the University of California, San Diego. Bradley is a NightHawk's stockholder and board member.
For more information from the Diagnostic Imaging archives:
Teleradiologists must tread carefully in legal mine field
Legislation tackles offshore teleradiology
New rules for offshore reads may hit rads at home
Necessity provided breeding ground for international teleradiology
Seven Takeaways from Meta-Analysis of PSMA Radiotracers for Prostate Cancer Imaging
December 1st 2023In a newly published meta-analysis of 24 studies, researchers noted that the PSMA PET radiotracer 18F PSMA-1007 may provide more benefit than 68Ga Ga-PSMA-11 for primary staging of patients with prostate cancer and detection of local lesion recurrence, but also has drawbacks with higher liver uptake and multiple reports of false positive bone lesions.
Study: Regular Mammography Screening Reduces Breast Cancer Mortality Risk by More than 70 Percent
November 30th 2023Consistent adherence to the five most recent mammography screenings prior to a breast cancer diagnosis reduced breast cancer death risk by 72 percent in comparison to women who did not have the mammography screening, according to new research findings presented at the annual Radiological Society of North America (RSNA) conference.
Chest CT Study Shows Higher Emphysema Risk from Combination of Marijuana and Cigarette Smoking
November 28th 2023People who smoke marijuana and cigarettes have 12 times the risk for centrilobular emphysema than non-smokers, according to new computed tomography (CT) research presented at the annual Radiological Society of North America (RSNA) conference.