Alliance HealthCare Services Announces Strategic Affiliation with ONRAD, Inc.

Company Divests Radiology 24|7 to ONRAD

NEWPORT BEACH, Calif.--()--Alliance HealthCare Services, Inc. (NASDAQ:AIQ), a leading national provider of radiology and radiation therapy services, and ONRAD, Inc., a full service radiology provider (“ONRAD”), have agreed to establish a strategic affiliation to develop and support opportunities to further enhance access to the quality services each company provides to its customers. Alliance will designate ONRAD as its exclusive strategic partner for the provision of teleradiology services, and ONRAD will designate Alliance as its exclusive strategic partner for the provision of technical radiology services. Alliance has also sold all of the operating assets of its subsidiary Radiology 24|7, LLC (“Radiology 24|7”) to ONRAD. Radiology 24|7 generates approximately $15 million of annualized revenue.

“This strategic affiliation with ONRAD, coupled with the Radiology 24|7 divestiture, makes sense for all parties involved. For Alliance, we maintain a great partnership and it allows us to focus on our core offering as we streamline operations. ONRAD is an important partner and ideal candidate to lead the teleradiology segment based on their knowledge and expertise. We look forward to continuing our professional relationship, and leveraging our combined strengths in the industry,” stated Tom Tomlinson, Chief Executive Officer and President of Alliance HealthCare Services.

Dave Willcutts, CEO of ONRAD said, “We have built a strong partnership with Alliance and we look forward to continuing to work with them to better assist our patients and medical partners for many years to come.”

About Alliance HealthCare Services

Alliance HealthCare Services is a leading national provider of radiology solutions 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 approximately 1,800 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 44 states. Alliance operates 487 diagnostic imaging and radiation therapy systems. The Company is the nation’s largest provider of advanced diagnostic mobile imaging services and one of the leading operators of fixed-site imaging centers, with 127 locations across the country. Alliance also operates 28 radiation therapy centers, including 17 dedicated stereotactic radiosurgery facilities, many of which are operated in conjunction with local community hospital partners, providing treatment and care for cancer patients. With 17 stereotactic radiosurgery facilities in operation, Alliance is among the leading providers of stereotactic radiosurgery nationwide.

About ONRAD

ONRAD, Inc. is a full service radiology services provider headquartered in Riverside, CA. As a partner to its customers, ONRAD can complement and expand the radiology services already in place, or provide a more comprehensive full-service solution. The company provides on-site radiology, sub-specialty interpretations, after-hours teleradiology, RIS/PACS support, as well final and preliminary radiology reports. All studies are read by US-based, Board Certified radiologists. For more information, visit www.onlineradiology.com.

Contacts

Alliance HealthCare Services
Howard Aihara, 949-242-5300
Executive Vice President
Chief Financial Officer

Release Summary

Alliance HealthCare Services Announces Strategic Affiliation with ONRAD, Inc.; Company Divests Radiology 24|7 to ONRAD

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Contacts

Alliance HealthCare Services
Howard Aihara, 949-242-5300
Executive Vice President
Chief Financial Officer