Alliance Imaging acquires mobile MRI service provider.ORANGE, Calif.--(BUSINESS WIRE)--Aug. 27, 1996--Alliance Imaging Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SCAN), the nation's leading provider of hospital-based fixed-site and mobile magnetic resonance imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ) and computed tomography Computed tomography (CT scan) X rays are aimed at slices of the body (by rotating equipment) and results are assembled with a computer to give a three-dimensional picture of a structure. (CT) services, Tuesday announced that it has acquired Sun MRI Services Inc., a Northern California-based MRI service provider. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Alliance Chairman, President and Chief Executive Officer Richard N. Zehner, the acquisition will add six new hospital customers, be immediately additive additive In foods, any of various chemical substances added to produce desirable effects. Additives include such substances as artificial or natural colourings and flavourings; stabilizers, emulsifiers, and thickeners; preservatives and humectants (moisture-retainers); and to earnings and is expected to generate annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues in excess of $1.2 million. The terms of the all-cash transaction were not disclosed. Zehner commented: "This acquisition is a continuation of our strategy to acquire regional MRI service operators. The Sun acquisition will provide the company greater market share in areas we currently serve and will allow us to take advantage of the economies of scale and the lower cost structure that Alliance enjoys. "We will also be able to increase revenues and profits by providing additional scanning time to Sun's customer base utilizing our existing MRI systems. "While our merger discussions with U.S. Diagnostic Labs Inc. are progressing, we plan to continue our successful strategy of making selected acquisitions and continue to lead the consolidation of the mobile MRI service business." The Sun purchase represents the company's fourth acquisition in the past year. Alliance Imaging is a leading provider of comprehensive diagnostic imaging services to hospitals and other healthcare providers. Services are provided on either a mobile, shared-user basis or on a full-time single-user basis. The company currently operates 87 MRI and eight CT systems nationwide. CONTACT: Alliance Imaging Inc., Orange Terrence M. White, 714/921-5656 or Allen & Caron Inc/South Coast Communications Group Marty Tullio (investors) Owen Daley (media) 714/252-8440 |
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