Alliance Imaging Announces Acquisition of Medical Outsourcing Services, LLC
Alliance Imaging, Inc. (NYSE:AIQ), a leading national provider of outpatient diagnostic imaging services and radiation therapy services, announced today that it has acquired Medical Outsourcing Services, LLC (MOS), a mobile provider of positron emission tomography/computed tomography (PET/CT), based in Naperville, Illinois.
Paul S. Viviano, Chairman of the Board and Chief Executive Officer, stated, “As PET/CT’s clinical indications continue to expand (including those currently covered under the National Oncologic PET Registry (NOPR)) and it becomes a critical clinical tool in cancer detection and related treatment staging, we believe there will continue to be strong, overall volume growth in PET/CT. As part of our strategic effort to expand Alliance’s position as a national leader in PET/CT services, we are extremely pleased to announce the acquisition of MOS and the integration of our respective PET/CT operations in the Midwest and Northeast United States. With a reputation for the highest levels of client and patient service, the addition of MOS will play an important role in the continued growth of Alliance’s PET/CT business.”
Gregory Pape, the Chief Executive Officer of MOS, stated, “As its founder and CEO, I am very excited to have MOS and its dedicated employees join the Alliance organization to combine our substantial resources and experience in providing high quality, patient-centered PET/CT services to our hospital clients.”
MOS currently generates approximately $22 million of annual net revenue and serves approximately 90 clients in nine states, including Illinois, Indiana, Iowa, Michigan, Missouri, New Jersey, Ohio, Pennsylvania, and Wisconsin. The total purchase price is expected to total approximately $20 million in cash and assumed indebtedness.
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 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 centers. The Company had 500 diagnostic imaging and radiation therapy systems, including 314 MRI systems and 81 PET or PET/CT systems, and served over 1,000 clients in 44 states at March 31, 2008. 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 18 radiation therapy centers and stereotactic radiosurgery facilities (two radiation therapy centers are in unconsolidated joint ventures) as of March 31, 2008.
Forward-Looking Statements
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