Akumin Inc., a U.S.-based provider of freestanding outpatient radiology services, announces that it is acquiring Alliance HealthCare Services, Inc., a national provider of radiology and oncology solutions to hospitals, health systems, and physician groups, for $820 million. The closing of the transaction is expected in third quarter of 2021, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.
Upon the closing of the transaction, the combined company will offer comprehensive radiology and oncology solutions to patients in the U.S., operating in 46 states, with more than 1,000 hospital and health system customers, 154 independent outpatient radiology centers, and 34 radiation therapy centers. The combined company expects to have more than 4,000 team members serving more than 2 million radiology and oncology patient visits annually.
“Bringing together the best of both organizations for the benefit of our patients, partners, and customers is truly exciting,” says Rhonda Longmore-Grund, president and CEO of Alliance. “Alliance brings an over 30-year history of successful radiology and oncology partnerships with hospitals, health systems and physicians; and Akumin has built and continues to grow its premier outpatient imaging practice. Together, we will offer patients and customers profound value unlike any other healthcare solutions company—and we can’t wait to get started.”
Riadh Zine, president and CEO of Akumin, also spoke out about the partnership, commenting: “The acquisition of Alliance is transformative in a changing healthcare ecosystem that continues to shift toward outpatient, price-transparent, value-based care. There’s no other organization that has the complement of attributes we will offer together as outpatient healthcare services experts—in particular, with Alliance’s longstanding hospital and health system relationships and Akumin’s freestanding operational expertise.”