RadNet Buys Paris Radiology AI Company Gleamer for Up to €230 Million

RadNet, the Los Angeles-based operator of outpatient imaging centers, said on Monday, March 2, that it has acquired Gleamer SAS, a Paris radiology artificial intelligence company, and will fold it into DeepHealth, its digital health subsidiary. The all-cash deal is valued at up to about €230 million, according to the company's Form 8-K filing.

The filing puts the purchase price at about €215 million in cash paid at closing plus a contingent payment of about €15 million that depends on Gleamer meeting certain milestones. RadNet bought the company through DH AI International Holdings, a Dutch subsidiary, the filing said.

What RadNet is buying

Gleamer, founded in 2017, has more than 130 employees and more than 700 customer contracts in 44 countries, according to RadNet's press release, filed with the SEC as an exhibit. Its software covers musculoskeletal, breast, lung and neurologic imaging, and the release said the portfolio includes four FDA-cleared and six CE-marked devices supporting more than 25 indications.

The company sells its software as a cloud subscription. RadNet said Gleamer's annual recurring revenue grew at a compound annual rate of more than 90% from 2022 through 2025 and is expected to reach about $30 million in 2026. RadNet described the valuation as reflecting that growth, Gleamer's gross margins and its customer retention.

Gleamer's tools will join DeepHealth's existing AI products for breast, chest, neuro, prostate and thyroid imaging. RadNet said the combination gives DeepHealth AI products across MR, CT, X-ray, mammography and ultrasound.

"As imaging volumes continue to rise amid an accelerating shortage of radiologists worldwide, reengineering high-volume workflows—particularly routine imaging such as X-ray, ultrasound, and mammography — is becoming essential to sustaining access, efficiency, and quality of care," Howard Berger, RadNet's president and chief executive, said in the release, as quoted by Axis Imaging News.

Use inside RadNet's own centers

RadNet also plans to be a major user of the software it is acquiring. X-ray accounts for almost 25% of RadNet's imaging volume, the company said, and it plans to deploy Gleamer's tools across its network in an end-to-end workflow that starts with flagging critical findings so the most urgent cases are read first.

The company said the deal will also speed the introduction of draft reporting, in which software prepares a preliminary report for the radiologist, and that it expects the deployment to drive cost efficiencies within RadNet by the third quarter of 2026. Axis Imaging News reported the same timeline.

Christian Allouche, Gleamer's co-founder and chief executive, said in the release that the combined company is "poised to shape the future of intelligent imaging at scale." Kees Wesdorp, who leads DeepHealth, said the deal "brings together two leaders on strong growth trajectories."

RadNet said it would hold an investor call on Thursday, March 5, to discuss the transaction, and that DeepHealth would show the combined portfolio at the European Congress of Radiology in Vienna from March 4 to 7.