Charleston Area Medical Center and Alliance Oncology Receive State Approval for New Radiation Therapy Department

New Joint Venture Assumes Existing Cancer Center Operations in Charleston, West Virginia

CHARLESTON, W. Va. & NEWPORT BEACH, Calif.--()--The state of West Virginia has approved the Certificate of Need (CON) filed by the Charleston Area Medical Center (CAMC), Charleston Radiation Therapy Consultants, and Alliance Oncology, a division of Alliance HealthCare Services—enabling the joint venture to assume management and operations of the department of radiation therapy at the CAMC Cancer Center.

The new three-way joint venture between Charleston Area Medical Center (CAMC), Charleston Radiation Therapy Consultants, and Alliance Oncology will help to bring new cutting-edge cancer technologies and treatments to the area by establishing a new, state-of-the-art radiation therapy department at the CAMC Cancer Center.

As the managing partner, Alliance Oncology has assumed full operational responsibility for the existing radiation oncology units at multiple locations in the Charleston, West Virginia area. Alliance is also leading the development and construction of the new radiation oncology department at the new Cancer Center at 3100 MacCorkle Avenue in Charleston, West Virginia.

The new facility will offer medical and radiation oncology, mammography, and ultrasound services, along with other cancer support services, which, according to CAMC Foundation President Gail Pitchford, are desperately needed in West Virginia. “One in two men in West Virginia, and one in three women in West Virginia, will be diagnosed with cancer in their lifetime,” Pitchford said.

Alliance Oncology President, Gregory E. Spurlock, says “We are pleased to take on operations at the existing center while we await completion of the new cancer center. The new CAMC Cancer Center will not only provide state-of-the-art cancer treatment that the people of West Virginia need, but it will also offer patients and their families the exceptional quality and care they deserve locally.”

Alliance Oncology, an industry leader in radiation oncology center development, partners directly with hospitals, radiation oncologists and other healthcare providers to establish, upgrade, and operate radiation therapy programs. Providing a full range of service line capabilities (inpatient & outpatient), Alliance Oncology’s fully integrated, comprehensive approach to cancer care affords its partners the speed-to-market, quality clinical outcomes, and operational expertise that sets them apart from the competition.

About Charleston Area Medical Center

Charleston Area Medical Center ("CAMC") is a nonprofit, 908-bed, regional referral and academic medical center with more than 6,000 employees. CAMC is made up of four hospitals: CAMC General Hospital, CAMC Memorial Hospital, CAMC Teays Valley Hospital and CAMC Women and Children's Hospital. CAMC is home to one of the largest heart programs in the United States; the only kidney transplant center in West Virginia; the highest level trauma center; and the only freestanding children's hospital in the state. All medical services are supported by primary care physicians throughout the region who regularly treat their patients at CAMC hospitals or refer them to CAMC for specialty consultation and treatment.

About CAMC Cancer Center

Charleston Area Medical Center's Cancer Center is designed to provide a multidisciplinary approach to comprehensive care for patients with hematologic and oncologic diseases. This center provides high quality care through the coordination and enhancement of multiple hematology/oncology services in an academic environment utilizing internationally recognized evidence-based standards of care and best practice patterns. The CAMC Cancer Center provides quality outpatient services of the type and levels necessary to support the teaching mission of the institution in its affiliation with the West Virginia University Medical School. The center provides services to surrounding communities, which are not readily available from other community medical/health care resources. The services of various indigent programs are available and the center facilitates access for qualifying patients. Services provided by the cancer center include those for hematology and oncology patients.

About Alliance HealthCare Services

Alliance HealthCare Services is a leading national provider of comprehensive radiology and radiation therapy services based upon annual revenue and number of systems deployed. Alliance focuses on MRI, PET/CT and CT through its Radiology Division (Alliance HealthCare Radiology) and radiation therapy through its Oncology Division (Alliance Oncology). 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 43 states. Operating 499 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 124 locations across the country. Additionally, with 29 radiation therapy centers providing treatment and care for cancer patients, including 18 stereotactic radiosurgery (SRS) facilities, Alliance is among the leading providers of stereotactic radiosurgery nationwide. For more information, visit www.alliancehealthcareservices-us.com.

Forward-Looking Statements

This press release contains forward-looking statements relating to future events, including statements related to the expansion of radiation therapy services, and the expected benefits, timing of completion and capital costs of the transaction. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Alliance's expectations. Such uncertainties and risks include, among other things, delays in or failure to obtain any required regulatory approvals with respect to the transaction; failure to consummate or delay in consummating the transaction for other reasons; the possibility that the expected benefits of the transaction may not materialize as expected; the effect of intense levels of competition in Alliance's industry; changes in the methods of third party reimbursements for diagnostic imaging and radiation oncology services; fluctuations or unpredictability of Alliance's revenues, including as a result of seasonality; changes in the healthcare regulatory environment or other governmental laws and regulations affecting Alliance's operations; Alliance's ability to keep pace with technological developments within its industry; the growth or lack thereof in the market for imaging, radiation oncology 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 Alliance may face in connection with recent, pending or future acquisitions, including unexpected costs or liabilities resulting from the acquisitions, diversion of management's attention from the operation of Alliance's business, and risks associated with integration of the acquisitions; and other risks and uncertainties identified in the Risk Factors section of the Company's Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission (the "SEC"), as may be modified or supplemented by our subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Alliance does not undertake to update its forward-looking statements except as required under the federal securities laws.

Contacts

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

Release Summary

Charleston Area Medical Center and Alliance Oncology Receive State Approval for New Radiation Therapy Department -- New Joint Venture Assumes Existing Cancer Center Operations in Charleston, WV

Contacts

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