Alliance HealthCare Services Announces Strategic Affiliation with ONRAD, Inc.
December 02,2013 9:39PM – NEWPORT BEACH, Calif.
Alliance HealthCare Services, Inc. (NASDAQ: AIQ ), a leading national provider of radiology and radiation therapy services, and ONRAD, Inc., a full service radiology provider (“ONRAD”), have agreed to establish a strategic affiliation to develop and support opportunities to further enhance access to the quality services each company provides to its customers. Alliance will designate ONRAD as its exclusive strategic partner for the provision of teleradiology services, and ONRAD will designate Alliance as its exclusive strategic partner for the provision of technical radiology services. Alliance has also sold all of the operating assets of its subsidiary Radiology 24|7, LLC (“Radiology 24|7”) to ONRAD. Radiology 24|7 generates approximately $15 million of annualized revenue.
“This strategic affiliation with ONRAD, coupled with the Radiology 24|7 divestiture, makes sense for all parties involved. For Alliance, we maintain a great partnership and it allows us to focus on our core offering as we streamline operations. ONRAD is an important partner and ideal candidate to lead the teleradiology segment based on their knowledge and expertise. We look forward to continuing our professional relationship, and leveraging our combined strengths in the industry,” stated Tom Tomlinson, Chief Executive Officer and President of Alliance HealthCare Services.
Dave Willcutts, CEO of ONRAD said, “We have built a strong partnership with Alliance and we look forward to continuing to work with them to better assist our patients and medical partners for many years to come.”
Read more: Press Release