Alliance Oncology Announces The Acquisition Of US Radiosurgery, Sees Purchase Price $43M Cash And $11M In Shares (AIQ)
April 12, 2011 9:16 AM
Alliance Oncology, a division of Alliance HealthCare Services, Inc. (NYSE: AIQ), announced today that it has acquired US Radiosurgery, LLC, a stereotactic radiosurgery provider based in Nashville, Tennessee.
US Radiosurgery operates eight stereotactic radiosurgery centers in partnership with local hospitals and radiation oncologists in eight states, including Colorado, Texas, Illinois, Ohio, Oklahoma, Pennsylvania, Nevada and California. These eight stereotactic radiosurgery centers are structured through partnerships and US Radiosurgery owns between 40% and 76% of the equity interests of the consolidated partnerships. US Radiosurgery currently generates approximately $29 million in consolidated annual revenue. The purchase price is expected to total approximately $54 million, which is comprised of $43 million in cash and $11 million in US Radiosurgery's share of assumed debt. With this acquisition, the oncology division's full year 2011 revenue guidance range is $68 million to $73 million.
