LAKE FOREST, CALIF. . . . June 19, 2008 . . . InSight Health Services Holdings Corp. (“InSight”) (OTCBB:ISGT) today announced that a wholly owned subsidiary of InSight completed the sale to RadNet Management, Inc. of its final diagnostic imaging center located in the San Fernando Valley of Southern California.
Kip Hallman, InSight’s President and Chief Executive Officer stated: “With the sale of this final center, we have now exited the San Fernando Valley, which was a non-core market for us. We are pleased to be able to focus our efforts going forward on the execution of other non-core market transactions and on our opportunities to reinvest in our chosen core 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 March 31, 2008, InSight’s network consists of 92 fixed-site centers and 111 mobile facilities.
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 foregoing contains forward-looking statements regarding InSight. They reflect InSight’s current views with respect to current events and financial performance, are subject to many risks, uncertainties and factors relating to InSight’s operations and business environment which may cause the actual results of InSight to be materially different from any future results, express or implied by such forward-looking statements. InSight intends that such forward-looking statements be subject to the Safe Harbor created by Section 27(a) of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The words and phrases “expect,” “estimate,” and “anticipate” and similar expressions identify forward-looking statements. Certain factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: (i) InSight’s ability to successfully implement its core market strategy; (ii) overcapacity and competition in InSight’s markets; (iii) reductions, limitations and delays in reimbursement by third-party payors; (iv) contract renewals and financial stability of customers; (v) conditions within the healthcare environment; (vi) the potential for rapid and significant changes in technology and their effect on InSight’s operations; (vii) operating, legal, governmental and regulatory risks; and (viii) economic, political and competitive forces affecting InSight’s business.
Other risk factors are listed from time to time in InSight’s SEC registration statements and reports. If any of these risks or uncertainties materializes, or if any of InSight’s underlying assumptions is incorrect, InSight’s actual results may differ from the results that InSight expresses or implies by any of its forward-looking statements. InSight disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.