RadNet, NantWorks and Verity Health System Announce Strategic Relationships Related to Breast Cancer and Integrated Care Models, Clinical Trials, High Speed Fiber Optics and Artificial Intelligence

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| Source: RadNet, Inc.

• Verity Health System to assume the professional responsibilities of Breastlink in Southern California as part of an integrated care model
• RadNet, with seven million patient visits annually, and Verity Health will explore potential joint ventures in several of its California hospitals and a national footprint 
• RadNet and NantWorks to explore collaboration on various projects, including clinical trials and research, data analytics and imaging-related artificial intelligence and NantWorks’ high speed fiber optic network 

LOS ANGELES, Sept. 05, 2017 (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 established multifaceted strategic relationships with NantWorks, LLC and certain affiliates of the Verity Health System.

As part of the strategic relationship, Verity Health has assumed the professional responsibilities and acquired certain assets related to RadNet’s California Breastlink operations. Verity Health intends to incorporate the scope of Breastlink operations into its integrated care model, delivering specialized treatment centers focused on next generation treatments and technology for various cancers.  RadNet will support the imaging services of this expansion.  Furthermore, RadNet and Verity Health will collaborate on establishing comprehensive integrated cancer care models across the nation.

Additionally, RadNet has partnered with NantWorks to explore collaboration on clinical trials and research, as well as data analytics.  RadNet would become part of NantWorks’ imaging network for research on new drugs and therapies related to cancer and other diseases.  RadNet would use its over seven million annual patient visits to help identify, recruit and qualify patients for appropriate clinical trials.  In addition, RadNet’s repository of images and clinical reports would be made available to NantWorks for the advancement of population health and disease management.  NantWorks would utilize its electronic healthcare data processing and transmission capabilities to evaluate patient outcomes and devise more efficacious treatment strategies.

RadNet and NantWorks will also explore collaboration on artificial intelligence projects designed to enable the extensive machine learning and machine vision platform developed by Nantworks over the past decade to recognize patterns and aid in the visualization and diagnosis from digital images and reports.  RadNet and NantWorks believe that combining RadNet’s massive repository of images and corresponding clinical reports with Nantworks’ processing power and advanced artificial engine tools could result in more accurate diagnosis of diseases and improved patient care outcomes. 

In addition as part of the multifaceted strategic relationship, RadNet will evaluate the utilization of NantWork’s high speed broadband fiber optic network for the transmission of images across RadNet’s imaging centers, affiliated radiology groups, and RadNet’s distributed storage network.  NantWorks today has over 300,000 fiber miles of fiber optic network and is connected to a multitude of data centers and healthcare systems in the United States.

Dr. Patrick Soon-Shiong, Chairman of NantWorks and CEO of Verity Health System, noted, “This partnership with RadNet will bring national scale to our plans to establish the next generation learning system in healthcare and build a comprehensive clinical integrated organization. By combining our machine vision and machine learning platform with Radnet's image libraries, health records and clinical outcome data we will implement predictive modelling tools on a massive scale. Together with next generation clinical treatments that we will establish associated with Radnet imaging centers, we will enable 21st century care and molecularly driven decision support at the point of care."

Dr. Howard Berger, Chairman and Chief Executive Officer of RadNet, noted, “We are extremely excited about partnering with Verity, NantWorks and Dr. Soon-Shiong.  Dr. Soon-Shiong is on the forefront of innovative approaches focused on treating cancer and other chronic diseases.  Combining our massive data repository (including images, clinical reports and patient outcomes) and our Breastlink offering with NantWorks digital infrastructure, artificial intelligence capabilities and Verity Health’s facilities creates the foundation of an alternative care model designed to prevent, treat and perhaps eradicate certain chronic diseases.”

About RadNet, Inc.
RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 298 owned and/or operated outpatient imaging centers. RadNet's core markets include California, Maryland, Delaware, New Jersey and New York. In addition, RadNet provides radiology information technology solutions, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry.  Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has a total of approximately 7,300 employees. For more information, visit http://www.radnet.com.

About Nantworks
NantWorks, LLC, is the umbrella organization for an ecosystem of companies committed to the convergence of 21st century innovative platforms to transform how we work, live and play: NantHealth, NantOmics, NantBioScience, NantCell and its affiliate NantKwest, NantPharma, NantMobile, NantStudio, NantCapital and NantCloud. Fact-based and solution driven, each of NantWorks’ division companies operates at the intersection of innovation and infrastructure.

Founded by Dr. Patrick Soon-Shiong, scientist and inventor of the first human nanoparticle chemotherapeutic agent Abraxane, the core mission for NantWorks is convergence: to develop and deliver a diverse range of technologies that accelerate innovation, broaden the scope of scientific discovery, enhance ground-breaking research, and improve healthcare treatment for those in need. NantWorks is building an integrated fact-based, genomically-informed, personalized approach to the delivery of care and the development of next generation diagnostics and therapeutics. For more information please visit www.nantmobile.com and www.nanthealth.com and follow Dr. Soon-Shiong on Twitter @Dr.PatSoonShiong

About Verity Health System
Verity Health is a nonprofit healthcare system employing more than 6,000 staff statewide. The hospitals include 1,650 inpatient beds, six active emergency rooms, a trauma center and a host of medical specialties including tertiary and quaternary care. Verity’s two Southern California hospitals are St. Francis Medical Center in Lynwood and St. Vincent Medical Center in Los Angeles. In Northern California, O’Connor Hospital in San Jose, St. Louise Regional Hospital in Gilroy, Seton Medical Center in Daly City and Seton Coastside in Moss Beach are part of Verity Health.

Verity Health also includes Verity Physician Network and Verity Medical Foundation, encompassing hundreds of physicians across a variety of practice models, independent practice associations, ambulatory surgery centers and urgent care centers.

CONTACTS: 
RadNet, Inc.
Mark Stolper, 310-445-2800
Executive Vice President and Chief Financial Officer