SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2020

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

Acquisitions:

On March 11, 2020, we announced a definitive agreement to acquire DeepHealth, Inc.. We had expected to issue 1.0 million RadNet common stock shares on April 1, 2020 to complete the acquisition. The anticipated closing date, which remains subject to customary closing conditions, has been extended to June 1, 2020.

Payments on credit facilities:

On April 10, 2020, we repaid in full the March 31, 2020 outstanding balance of $80.0 million on our Barclays Revolving Credit Facility. As of May 7, 2020, RadNet had no outstanding borrowings under its revolving credit facility.

Coronavirus Economic Impact Payments:

We received approximately $39.0 million in advanced Medicare payments from the Centers for Medicare and Medicaid Services ("CMS"). These payments are required to be repaid to CMS beginning 120 days after their receipt through the adjudication of Medicare claims for future services over a three month period.

We have received financial stimulus from the U.S. Department of Health & Human Services under the Coronavirus Aid, Relief, and Economic Security (CARES) Act of approximately $14.9 million, and have applied for additional funding under the Act.