Alliance buys PET Scans of America

AuntMinnie.com staff writers

Oct 12, 2005

Imaging services provider Alliance Imaging has purchased mobile PET and PET/CT services provider PET Scans of America (PSA).

Alliance paid approximately $44 million in cash for PSA, which is expected to contribute approximately $20 million in annualized revenue, according to the Anaheim, CA-based firm. Alliance financed the deal through a combination of capital leases and borrowing under its revolving line of credit.

In other company news, Alliance said it expects to report third-quarter revenues of approximately $106 million, compared with previous guidance of $107 million to $110 million. Alliance expects EBITDA will range from $39 million to $39.5 million, below the guidance range of $41.5 million to $43.5 million.

Chairman and CEO Paul Viviano said Alliance's business was impacted by greater-than-anticipated softness in scan volumes, the effect of Hurricanes Katrina and Rita, and rising fuel and transportation costs.

By AuntMinnie.com staff writers
October 13, 2005

Related Reading

Alliance posts Q2 revenue, earnings decline, August 4, 2005

Alliance notches positive first quarter, May 3, 2005

Alliance shows gain in Q4 revenue, March 9, 2005

Alliance completes refinancing, December 30, 2004

Alliance provides 2005 guidance, December 7, 2004

Copyright © 2005 AuntMinnie.com

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