Diagnostic imaging service provider Alliance Imaging Inc., based in Anaheim, Calif., announced that its affiliate Alliance Oncology LLC has bought eight radiation therapy centers from Sonix subsidiary Bethesda Resources Inc. for an estimated total price of $36 million in cash and assumed debt.
Located in Alabama, Arkansas, Mississippi and Missouri, many of these cancer centers are sole community providers located near hospital campuses, and several operate under certificates of need.
The acquisition, financed through internally generated funds, borrowings under credit facilities and capital leases, is anticipated to generate approximately $14 million in annualized revenue.
Alliance Chairman of the Board and Chief Executive Officer Paul S. Viviano said his company is pleased with the acquisition of such “high-quality and well-regarded radiation therapy centers.”
“This transaction provides a platform for further growth of Alliance Oncology and positions us well to take advantage of other de-novo and acquisition opportunities in the radiation therapy sector,” Viviano continued. “The Bethesda acquisition will be accretive and will add only modest leverage to our balance sheet.”
