Alliance Imaging Announces Sale of Lithotripsy Business.Business Editors & Health/Medical Writers ANAHEIM, Calif.--(BUSINESS WIRE)--Aug. 23, 2002 Alliance Imaging Inc. (NYSE NYSE See: New York Stock Exchange :AIQ AIQ Analytical Instrument Qualification AIQ Available in Quarters AIQ Action Internet Québec AIQ Allowance Item Quantity AIQ Analyst Interest Queue AIQ Algebraic Integer Quantization ), a leading national provider of outsourced diagnostic imaging services, today announced that it has closed the sale of its lithotripsy therapeutic business today to a U.S. subsidiary of the German-based United Medical Systems International AG (G.UMS). The sale included nine mobile lithotripters, which generated annual revenues approaching $5 million and annual EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become approaching $2 million (earnings before interest, taxes, depreciation, and amortization Earnings before interest, taxes, depreciation, and amortization (EBITDA) A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses. ). Richard N. Zehner, chairman and chief executive officer, stated, "We are pleased to announce the sale of our lithotripsy therapeutic service to a quality company that has a focus on the lithotripsy therapy and allows Alliance Imaging the ability to focus on its diagnostic imaging strategies in the marketplace." Alliance Imaging is a leading national provider of outsourced diagnostic imaging services. Alliance provides imaging and therapeutic services, primarily to hospitals and other healthcare providers on a mobile, shared-service basis. The company had 440 diagnostic imaging and therapeutic systems, including 351 MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. systems, and 1,323 clients in 42 states at June 30, 2002. |
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