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Alliance Oncology Announces the Acquisition of US Radiosurgery

04/12/2011

Newport Beach, CA (Business Wire) -- Alliance Oncology, a division of Alliance HealthCare Services, Inc. (NYSE:AIQ) (collectively referred to as the "Company" or "Alliance"), announced today that it has acquired US Radiosurgery, LLC, a stereotactic radiosurgery provider based in Nashville, Tennessee.

US Radiosurgery operates eight stereotactic radiosurgery centers (including one stereotactic radiosurgery center in an unconsolidated joint venture) in partnership with local hospitals and radiation oncologists in eight states, including Colorado, Texas, Illinois, Ohio, Oklahoma, Pennsylvania, Nevada and California. These eight stereotactic radiosurgery centers are structured through partnerships and US Radiosurgery owns between 40% and 76% of the equity interests of the consolidated partnerships. US Radiosurgery currently generates approximately $29 million in consolidated annual revenue. The purchase price is expected to total approximately $54 million, which is comprised of $43 million in cash and $11 million in US Radiosurgery's share of assumed debt. With this acquisition, the oncology division's full year 2011 revenue guidance range is $68 million to $73 million.

Paul S. Viviano, Chairman of the Board and Chief Executive Officer of Alliance HealthCare Services, stated, "I am very pleased to announce Alliance's acquisition of US Radiosurgery which is well known for its high quality stereotactic radiosurgery centers, all of which are structured as partnerships with strong acute care hospitals and radiation oncologists. We look forward to leveraging USR's strong brand name, reputation and expertise in cancer treatment. In keeping with Alliance Oncology's growth strategy, this acquisition significantly expands our nationwide footprint, and further enables the company to provide advanced treatment and technology to cancer patients. Following the acquisition of US Radiosurgery, we believe Alliance Oncology will be the nation's leading provider of stereotactic radiosurgery services with 14 dedicated centers."

Mr. Viviano added, "I am also pleased to share that George Stevens, Chief Executive Officer of US Radiosurgery, will be joining Alliance and will report directly to Rick Hall, President of Alliance Oncology. George will be responsible for leading all of Alliance Oncology's dedicated stereotactic radiosurgery centers and will lead the effort to expand our presence in the fast growing stereotactic radiosurgery market even further. George brings more than two decades of healthcare industry experience, and he and his highly experienced management team have a proven record of success building and growing stereotactic radiosurgery centers."

George Stevens, Chief Executive Officer of US Radiosurgery, stated, "I am very excited for US Radiosurgery to join the Alliance organization. The hard work and dedication of every member of the US Radiosurgery team, including both physicians and hospital stakeholders, has created this opportunity for collaboration and expansion. Our combined resources and experience as well as our shared commitment to high quality, patient-centered care will enable us to provide exceptional service to our existing and future clients."