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
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