LAKE FOREST, CALIF. . . . April 15, 2008 . . . InSight Health Services Holdings Corp. (“InSight”) (OTCBB:ISGT) today announced that a wholly owned subsidiary of InSight completed the sale of five diagnostic imaging centers to RadNet Management, Inc. These five Southern California-based centers, located in Simi Valley, Thousand Oaks, Westlake Village, Encino and Valencia, are part of the previously announced asset purchase agreement involving six centers throughout this area. Completion of the sale of the sixth center, located in Van Nuys, California is pending third-party approvals.
Kip Hallman, InSight’s President and Chief Executive Officer stated: “We are excited about completing this sale, which furthers our goal of reallocating our resources from non-core to core markets, where we can achieve stronger operating results. We expect that, as part of this strategy, we will continue the process of exiting some additional markets while increasing our presence in others or establishing operations in new markets.”
About InSight
InSight, headquartered in Lake Forest, California, is a nationwide provider of diagnostic imaging services. It serves managed care entities, hospitals and other contractual customers in over 30 states, including the following targeted regional markets: California, Arizona, New England, the Carolinas, Florida and the Mid-Atlantic states. As of December 31, 2007, InSight’s network consists of 97 fixed-site centers and 105 mobile facilities.
For more information, please visit www.insighthealth.com.
About RadNet, Inc.
RadNet, Inc. is a national market leader providing high-quality, cost-effective diagnostic imaging services through a network of 160 fully-owned and operated outpatient imaging centers. RadNet’s core markets include California, Delaware, Maryland and New York. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has a total of approximately 4,000 employees. For more information, visit http://www.radnet.com.
Forward-Looking Statements
The matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors as (1) obtaining the necessary approvals to consummate the transaction; (2) overcapacity and competition in InSight’s markets; (3) reductions, limitations and delays in reimbursement by third party payors; (4) contract renewals and financial stability of InSight’s customers; (5) conditions within the healthcare environment; (6) the potential for rapid and significant changes in technology and their effect on InSight’s operations; (7) operating, legal, governmental and regulatory risks; (8) economic, political and competitive forces affecting InSight’s business; (9) InSight’s ability to successfully implement asset dispositions; (10) InSight’s ability to successfully integrate acquisitions; and other risk factors detailed in InSight’s SEC filings.