Alliance HealthCare Services Announces Professional Radiology Services Acquisition of 24/7 Radiology

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 24/7 Radiology, a professional radiology services company, which provides both preliminary and final professional radiology interpretation services for MRI, CT, ultrasound, X-Ray and other imaging modalities in 18 states. The purchase price totaled $5 million in cash. This acquisition expands Alliancea�s professional services business line, building on Alliancea�s prior acquisition of Radiology 24/7 during 2010.

Paul S. Viviano, Chairman of the Board and Chief Executive Officer, stated, aWe are pleased to announce the acquisition of 24/7 Radiology. The addition of 24/7 Radiology combined with the acquisition of Radiology 24/7 in 2010 doubles the size of our professional radiology services to approximately $17 million in annualized revenue and enhances our professional radiology services platform to meet the broader needs of Alliancea�s customers.a

About Alliance HealthCare Services

Alliance HealthCare Services is a leading national provider of advanced outpatient diagnostic imaging and radiation therapy services based upon annual revenue and number of systems deployed. Alliance focuses on MRI, PET/CT and CT through its Imaging division and radiation therapy through its Oncology division. With more than 2,300 team members committed to providing exceptional patient care and exceeding customer expectations, Alliance provides quality clinical services for over 1,000 hospitals and other healthcare partners in 46 states. Alliance operates 535 diagnostic imaging and radiation therapy systems. The Company is the nationa�s largest provider of advanced diagnostic mobile imaging services and one of the leading operators of fixed-site imaging centers, with 132 locations across the country. Alliance also operates 35 radiation therapy centers, providing treatment and care for cancer patients.

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 2011 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, 2010, 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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Alliance HealthCare Services Announces Professional Radiology Services Acquisition of 24/7 Radiology