Lake Forest-based InSight Health Services Holdings Corp. said it completed the sale of five Southern California medical imaging centers to Los Angeles-based RadNet Inc.
RadNet owns and operates 142 medical imaging centers. It has centers in California, Maryland, New York, Florida, Kansas and Colorado,
The completion of a sale for a sixth center is pending third-party approvals, InSight said in a release.
InSight’s new chief executive, Kip Hallman, said the sale furthered the company’s goal of leaving non-core markets. The six centers are in Simi Valley, Thousand Oaks, Westlake Village, Encino and Valencia,parts of California the company finds not to be core markets.
InSight provides diagnostic imaging services through more than 200 fixed-site and mobile facilities for hospitals and managed care companies.
Its core markets are parts of California, Arizona, New England, the Carolinas, Florida and Mid-Atlantic states.
The company underwent bankruptcy reorganization last year in which it traded 90% of its common stock to bondholders, who in turn forgave $195 million of debt due in 2011.
