Alliance Imaging announces deliveries of five new MRI scanners.ORANGE, Calif.--(BUSINESS WIRE)--Nov. 12, 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, on Tuesday announced that it will take deliveries of five new 1.0 Tesla mobile MRI systems valued at over $8 million in the fourth quarter. All of the systems are expected to be placed into customer service under long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. contracts immediately upon delivery. Three of the systems will be manufactured by General Electric Medical Systems and two by Siemens Medical. Alliance President and Chief Executive Officer Richard N. Zehner commented: "Our ongoing MRI fleet upgrade program, which began in 1994, continues to yield significant benefits in terms of increased revenue and earnings through expanding market share and increasing scan volume." Zehner added: "We will have invested approximately $55 million over the life of our fleet upgrade program. The high levels of cash flow generated as a direct result of the program have enabled us to concurrently improve our balance sheet and reduce the ratio of long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. to total capitalization Total capitalization The total long-term debt and all types of equity of a company that constitutes its capital structure. total capitalization See capitalization. . With our fleet upgrade program nearing completion, we expect to be able to continue strengthening our balance sheet by focusing on the reduction of our long-term debt in the coming years." The addition of the new systems will bring the total number of state-of-the-art mobile MRIs added this year to 17. By the end of 1996, the company will have upgraded another 20 MRI systems. The benefits generated by the company's fleet upgrade program, as well as its geographic expansion through acquisitions made this year, are expected to show a continuing trend of increased year-to-year revenues and earnings in Alliance's fourth quarter. Alliance Imaging is the leading provider of comprehensive diagnostic imaging and related management 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 its fleet of MRI and CT systems nationwide. CONTACT: Alliance Imaging Inc., Orange Terrence M. White, 714/921-5656 or Allen Al·len , Edgar 1892-1943. American anatomist who is noted for his studies of hormones and for the discovery (1923) of estrogen. & Caron Inc/South Coast Communications Group Marty Tullio (investors) Owen Daley (media) 714/252-8440 |
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