I seem to have a lot of contacts in the PACS business, so many that they keep turning up in unexpected places. I received a note yesterday from a friend at eRad to let me know that the Greenville, SC-based RIS/PACS company had just been bought out by outpatient imaging provider RadNet. About 5 minutes later, I received a phone call from Ranjan Jayanathan, RadNet's CIO to tell me the same thing. I met Ranjan a few years back, when he still worked for Dynamic Imaging (and there still was a Dynamic Imaging). He walked me through one of the best product demonstrations I have ever experienced. (I wonder if that particular product will ever be seen again, eh, Ranjan?)
I've got an appointment with Mr. Jayanathan next week to discuss this acquisition further, as I think the story is newsworthy for my illustrious readers. Stay tuned!
3 comments :
Isn't Radnet brilliant? They borrow millions from their credit line in order to gobble up all these smaller image clinics in the country moving closer to be the Walmart of imaging. Then through their latest proxy statement report that all of their top executives received 10's of thousands of dollars each in raises the last 36 months while telling all the employees who do all the work that there is no funds for them to have any raises. Remarkable!
Expand, expand, expand. That has become Radnet. No raises for 2 years, no explanation, no bonuses, no christmas party (they blame Medicare/Medicaid and Congress), but the upper management gets bonuses, the share holders make profits. For a company of this size and the number of employees, its got to rank close-to-the-bottom or at-the-bottom for treatment of employees. Howard Berger, M.D. (CEO) should be embarressed.
Another thought, employees and vendors of this company are the last to feel any appreciation for their success in imaging. They will be laying off the transcription department by october 2011, ask your friend when you meet with him (he is well aware). They pay lenders late or not at all.
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