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Alliance HealthCare Services Announces Radiation Therapy Asset Acquisition from Arkansas Cancer Center, P.A.


Published on 2010-07-09 20:00:40 - Market Wire
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NEWPORT BEACH, Calif.--([ BUSINESS WIRE ])--Alliance HealthCare Services, Inc. (NYSE:AIQ) (the aCompanya or aAlliancea), a leading national provider of outpatient diagnostic imaging and radiation therapy services, announced the acquisition of certain radiation therapy assets from Arkansas Cancer Center, P.A. The purchase price is expected to total approximately $9 million in cash and assumed indebtedness.

Paul S. Viviano, Chairman of the Board and Chief Executive Officer, stated, aWe are extremely pleased to announce the acquisition of a radiation therapy facility in Pine Bluff, Arkansas and look forward to integrating it into our portfolio of centers in the Southeast region of the country. With a reputation for the highest levels of clinical care and patient satisfaction, the addition of this facility will play an important role in the continued growth of Alliance Oncology.a

About Alliance HealthCare Services

Alliance HealthCare Services is a leading national provider of shared-service and fixed-site diagnostic imaging services, based upon annual revenue and number of diagnostic imaging systems deployed, and a provider of radiation therapy services. Alliance provides imaging and therapeutic services primarily to hospitals and other healthcare providers on a shared and full-time service basis, in addition to operating a growing number of fixed-site imaging and radiation therapy centers. The Company had 507 diagnostic imaging and radiation therapy systems, including 297 MRI systems and 125 PET or PET/CT systems, and served over 1,000 clients in 45 states at March 31, 2010. The Company operated 119 fixed-site imaging centers (three in unconsolidated joint ventures), which includes systems installed in hospitals or other buildings on or near hospital campuses, medical groupsa™ offices, or medical buildings and retail sites. The Company also operated 25 radiation therapy centers and stereotactic radiosurgery facilities (two radiation therapy centers are in unconsolidated joint ventures) as of March 31, 2010.

Forward-Looking Statements

This press release contains forward-looking statements relating to future events, including statements related to investment, development and acquisition activity, the implementation of strategic initiatives, the integration of acquired businesses into the Company, the opening of new imaging and radiation oncology centers, and the Companya™s full year 2010 guidance. In this context, forward-looking statements often address the Companya™s expected future business and financial results and often contain words such as aexpects,a aanticipates,a aintends,a aplans,a abelieves,a aseeksa or awill.a Forward-looking statements by their nature address matters that are uncertain and subject to risks. Such uncertainties and risks include: changes in the preliminary financial results and estimates due to the restatement or review of the Companya™s financial statements; the nature, timing and amount of any restatement or other adjustments; the Companya™s ability to make timely filings of its required periodic reports under the Securities Exchange Act of 1934; issues relating to the Companya™s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; the Companya™s high degree of leverage and its ability to service its debt; factors affecting the Companya™s leverage, including interest rates; the risk that the counterparties to the Companya™s interest rate swap agreements fail to satisfy their obligations under these agreements; the Companya™s ability to obtain financing; the effect of operating and financial restrictions in the Companya™s debt instruments; the accuracy of the Companya™s estimates regarding its capital requirements; the effect of intense levels of competition in the Companya™s industry; changes in the methods of third party reimbursements for diagnostic imaging and radiation oncology services; fluctuations or unpredictability of the Companya™s revenues, including as a result of seasonality; changes in the healthcare regulatory environment; the Companya™s ability to keep pace with technological developments within its industry; the growth in the market for MRI and other services; the disruptive effect of hurricanes and other natural disasters; adverse changes in general domestic and worldwide economic conditions and instability and disruption of credit markets; difficulties the Company may face in connection with recent, pending or future acquisitions, including unexpected costs or liabilities resulting from the acquisitions, diversion of managementa™s attention from the operation of the Companya™s business, and risks associated with integration of the acquisitions; and other risks and uncertainties identified in the Risk Factors section of the Companya™s Form 10-K for the year ended December 31, 2009, filed with the Securities and Exchange Commission (the aSECa) as may be modified or supplemented by our subsequent filings with the SEC. These uncertainties may cause actual future results or outcomes to differ materially from those expressed in the Companya™s forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake to update its forward-looking statements except as required under the federal securities laws.

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