Lumexa Imaging Holdings, Inc. Common Stock

Lumexa Imaging Holdings, Inc. (Nasdaq: LMRI) is a nationwide provider of outpatient medical imaging services. It operates approximately 190 outpatient imaging centers, of which 103 are consolidated and 87 are joint ventures as of September 30, 2026. It employs over 5,000 team members and performed approximately 4 million outpatient procedures system-wide in 2025. The company offers routine imaging alongside advanced modalities (MRI and CT), which made up 31.8% of consolidated and 38.2% of system-wide procedures in Q3 2026. It reports two segments: Outpatient (imaging center operations) and Professional (professional services). Revenue comes mainly from net patient service revenue, plus management fees and other revenue earned by managing joint-ventured sites with health system partners, including zero-margin pass-throughs of site-level costs. A meaningful share of earnings comes from equity in earnings of unconsolidated joint-venture affiliates. The company positions itself as a lower-cost, more convenient alternative to hospital-based imaging, partnering with health systems and radiologists. It is pursuing growth through de novo center openings, with a target of 8–10 in 2026. Updated Nov 10, 2026