Alliance Imaging, Inc. Announces Acquisition of Six Radiosurgery CyberKnife Stereotactic Facilities From Accuray Incorporated
Alliance Imaging, Inc. (NYSE:AIQ), a leading national provider of diagnostic imaging services announced today that its wholly-owned subsidiary, Alliance Radiosurgery, LLC, has purchased the assets of six stereotactic radiosurgery facilities operating the CyberKnife® Robotic Radiosurgery System located in California, Maryland, New Jersey and Tennessee from Accuray Incorporated (NASDAQ:ARAY).
Paul S. Viviano, Chairman of the Board and Chief Executive Officer, stated, “We are extremely pleased to announce Alliance’s acquisition of the CyberKnife operations from Accuray and the expansion of our oncology service offerings to include stereotactic radiosurgery. This acquisition and the opportunity to develop a strategic relationship with Accuray provides Alliance’s national team of business development, marketing and operations personnel with an attractive opportunity to partner with the growing number of hospitals interested in establishing stereotactic radiosurgery programs.”
About Alliance Imaging
Alliance Imaging 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. Alliance provides outpatient diagnostic imaging and radiation therapy 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 centers. The Company had 488 diagnostic imaging systems, including 310 MRI systems and 79 PET or PET/CT systems, and served over 1,000 clients in 44 states at December 31, 2007. The Company operated 88 fixed-site imaging centers (five in unconsolidated joint ventures), which includes systems installed in hospitals or other buildings on or near hospital campuses, medical groups’ offices, or medical buildings and retail sites. The Company also operated 12 radiation therapy centers (two in unconsolidated joint ventures) as of December 31, 2007.
Forward-Looking Statements
This press release contains forward-looking statements relating to future, not past, events. In this context, forward-looking statements often address our expected future business and financial results and often contain words such as “expects,”"anticipates,”"intends,”"plans,”"believes,”"seeks” or “will.” Forward-looking statements by their nature address matters that are uncertain and subject to risks. Such uncertainties and risks include difficulties the Company may face in connection with the announced acquisition, including unexpected costs or liabilities resulting from the acquisition, diversion of management’s attention from the operation of the Company’s business as a result of the acquisition and risks associated with integration of the acquisition, and other risks and uncertainties identified in the Risk Factors section of the Company’s Form 10-K for the year ended December 31, 2007 filed with the Securities and Exchange Commission. These uncertainties may cause actual future results or outcomes to differ materially from those expressed in the Company’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.