v3.26.1
Investments in Unconsolidated Affiliates
6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Affiliates

11. Investments in Unconsolidated Affiliates

At June 30, 2026, the Company operates 88 imaging centers (“JV centers”) through joint ventures with health system partners.

BTDI

Touchstone Imaging of Mesquite, LLC (“TMI”), a wholly owned subsidiary of LIOI, and Baylor University Medical Center (BUMC) own a 49% and 51% interest, respectively, in BTDI. The Company accounts for TMI’s noncontrolling interest in the investment in the unconsolidated affiliate under the equity method of accounting.

All Others

The Company’s other investments in unconsolidated affiliates include Carolinas Imaging Services, LLC (“CIS”), Virtua Adult Imaging JV (“Virtua JV”), SCLTDI JV, LLC (“SCLTDI”), IH-USRS Imaging, LLC (“IH-USRS”), RLC, LLC, (“RLC”), and Tucson Medical Imaging Partners, LLC (“TMIP”). The Company has ownership interests in these entities ranging from 30% to 50%. The Company accounts for these investments in unconsolidated affiliates under the equity method of accounting.

The following is a summary of the statements of income for the investments in unconsolidated affiliates on an aggregated basis for the periods indicated (in thousands):

 

 

THREE MONTHS ENDED JUNE 30,

 

 

2026

 

 

2025

 

 

BTDI

 

 

ALL
OTHERS

 

 

TOTAL

 

 

BTDI

 

 

ALL
OTHERS

 

 

TOTAL

 

Income statement:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

109,533

 

 

$

42,905

 

 

$

152,438

 

 

$

100,890

 

 

$

39,282

 

 

$

140,172

 

Expenses

 

 

78,142

 

 

 

34,476

 

 

 

112,618

 

 

 

72,416

 

 

 

31,971

 

 

 

104,387

 

Net income

 

$

31,391

 

 

$

8,429

 

 

$

39,820

 

 

$

28,474

 

 

$

7,311

 

 

$

35,785

 

Company’s share of net income

 

$

14,966

 

 

$

4,226

 

 

$

19,192

 

 

$

13,616

 

 

$

3,411

 

 

$

17,027

 

Amortization of basis difference

 

 

(500

)

 

 

(73

)

 

 

(573

)

 

 

(500

)

 

 

 

 

 

(500

)

Equity in earnings of unconsolidated
   affiliates

 

$

14,466

 

 

$

4,153

 

 

$

18,619

 

 

$

13,116

 

 

$

3,411

 

 

$

16,527

 

 

 

SIX MONTHS ENDED JUNE 30,

 

 

2026

 

 

2025

 

 

BTDI

 

 

ALL
OTHERS

 

 

TOTAL

 

 

BTDI

 

 

ALL
OTHERS

 

 

TOTAL

 

Income statement:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

208,505

 

 

$

83,616

 

 

$

292,121

 

 

$

193,945

 

 

$

77,989

 

 

$

271,934

 

Expenses

 

 

151,437

 

 

 

67,855

 

 

 

219,292

 

 

 

141,684

 

 

 

61,522

 

 

 

203,206

 

Net income

 

$

57,068

 

 

$

15,761

 

 

$

72,829

 

 

$

52,261

 

 

$

16,467

 

 

$

68,728

 

Company’s share of net income

 

$

27,211

 

 

$

7,537

 

 

$

34,748

 

 

$

25,014

 

 

$

7,831

 

 

$

32,845

 

Amortization of basis difference

 

 

(1,000

)

 

 

(105

)

 

 

(1,105

)

 

 

(1,000

)

 

 

 

 

 

(1,000

)

Equity in earnings of unconsolidated
   affiliates

 

$

26,211

 

 

$

7,432

 

 

$

33,643

 

 

$

24,014

 

 

$

7,831

 

 

$

31,845