The Offering
For the nine months ended September 30, 2025, Lumexa reported total revenues of $755.3 million, compared to $700.8 million in the corresponding period last year. The company posted a net loss of $18.4 million for the nine months, an improvement from the prior-year period when it incurred a loss of $69.0 million. Income from operations more than doubled to $83.6 million during the period.
The Business
Lumexa is a leading provider of advanced diagnostics like MRI, CT, and mammography in the US through a large network. Founded in 2018, the company is currently led by chief executive officer Caitlin Zulla. Since its inception, Lumexa has completed 20 acquisitions and opened 41 de novo centers, which are modern, company-owned, standalone outpatient imaging facilities. It is estimated that the diagnostic imaging services market grew at a compound annual rate of 4.2% from 2019 to 2024, led by freestanding imaging center growth of 6.9%.