Alliance Healthcare Services Announces Acquisition by and Integration With Akumin
25 Juni 2021 - 1:17PM
Business Wire
Acquisition will create the most comprehensive
radiology and oncology solutions provider in the U.S. and a
catalyst for continued innovative growth in the industry
Alliance HealthCare Services, Inc. (“Alliance”), a leading
national provider of radiology and oncology solutions to hospitals,
health systems and physician groups, announced today that it has
entered into an agreement to be acquired for $820 million by Akumin
Inc. (NASDAQ/TSX: AKU), a premier provider of freestanding
outpatient radiology services in the U.S. The closing of the
transaction is expected in third quarter of 2021, subject to
clearance under the Hart-Scott-Rodino Antitrust Improvements Act
and other customary closing conditions.
Upon the closing of the transaction, the combined company will
offer the most comprehensive radiology and oncology solutions to
patients in the U.S., operating in 46 states, with more than 1,000
hospital and health system customers, 154 independent outpatient
radiology centers and 34 radiation therapy centers. The combined
company expects to have over 4,000 team members serving more than
two million radiology and oncology patient visits annually.
“Bringing together the best of both organizations for the
benefit of our patients, partners and customers is truly exciting,”
said Rhonda Longmore-Grund, President and CEO of Alliance.
“Alliance brings an over 30-year history of successful radiology
and oncology partnerships with hospitals, health systems and
physicians; and Akumin has built and continues to grow its premier
outpatient imaging practice. Together we will offer patients and
customers profound value unlike any other healthcare solutions
company – and we can’t wait to get started.”
“We have always said Akumin’s vision is to drive
patient-centered innovation, service delivery standardization, and
exceptional healthcare value, all in an outpatient care setting,”
said Riadh Zine, President and CEO of Akumin. “The acquisition of
Alliance is transformative in a changing healthcare ecosystem that
continues to shift toward outpatient, price-transparent,
value-based care. There’s no other organization that has the
complement of attributes we will offer together as outpatient
healthcare services experts, in particular with Alliance’s
longstanding hospital and health system relationships and Akumin’s
freestanding operational expertise.”
“We thank the Alliance team for five years of partnership, and
we look forward to the success we know Akumin and Alliance will
achieve as a combined organization,” said Qisen Huang, Chairman and
Founder of Tahoe Investment Group. Tahoe has been majority owner of
Alliance since 2016 and will on closing transition to a minority
ownership position in the newly combined, publicly traded
entity.
The acquisition has been facilitated for Alliance with the
assistance of Citigroup Global Markets, Inc. and SVB Leerink LLC,
as financial advisors, and Ropes & Gray LLP and Osler, Hoskin
& Harcourt LLP, as legal advisors. Stikeman Elliott LLP and
McDermott Will & Emery LLP acted as legal advisors, and
PricewaterhouseCoopers LLP as financial advisors, to Akumin.
About Alliance HealthCare Services
Alliance HealthCare Services is a leading national provider of
outsourced advanced radiology and radiation therapy services across
45 states in the U.S. Alliance partners with more than 1,000
hospitals, health systems and physician practices to provide a full
continuum of solutions, including onsite outpatient services and
comprehensive service line management. Alliance’s ~2,500 Team
Members deliver exceptional customer and patient care via more than
600 diagnostic radiology and radiation therapy systems. For more
information, visit www.alliancehealthcareservices-us.com.
About Akumin Inc.
Akumin is a leading provider of freestanding, fixed-site
outpatient diagnostic imaging services in the United States with a
network of 137 owned and/or operated imaging centers located in
Florida, Texas, Pennsylvania, Delaware, Illinois, Kansas, Georgia,
and Massachusetts. By combining our clinical expertise with the
latest advances in technology and information systems, our centers
provide physicians with imaging capabilities to facilitate the
diagnosis and treatment of diseases and disorders and may reduce
unnecessary invasive procedures, minimizing the cost and amount of
care for patients. Our imaging procedures include MRI, CT, positron
emission tomography (PET), ultrasound, diagnostic radiology
(X-ray), mammography, and other interventional procedures,
performed with the help of over 1,500 team members. For more
information, visit www.akumin.com.
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Tracy Wiese Chief Strategy & Marketing Officer Alliance
HealthCare Services 949-877-4512 twiese@aiq-us.com
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