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7. SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2015
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

On April 1, 2015, RadNet purchased substantially all of the assets of New York Radiology Partners (NYRP) for $31.4 million in total consideration, consisting of $29.8 million in cash and issued a promissory note for the remainder in the amount of $1.6 million.

 

On April 30, 2015, RadNet entered into a joinder to its existing senior secured first lien credit agreement to provide for the borrowing of $75.0 million of incremental first lien term loans. The incremental first lien term loans will be treated as part of the same class as the existing tranche B term loans currently outstanding under the existing first lien credit agreement and will bear the same interest rate as the rate currently payable on the existing tranche B term loans under the existing first lien credit agreement, which is (a) the adjusted LIBOR rate plus 3.25% or (b) the base rate plus 2.25%. Proceeds from the incremental term loans were used to repay all the borrowings outstanding under the first lien revolving loan facility and pay approximately $1 million of fees and expenses associated with the transaction.