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Akumin acquires Alliance Healthcare Services for $820 million

John R. Fischer, Senior Reporter | June 28, 2021
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Akumin has acquired Alliance Healthcare Services for $820 million
Outpatient radiology services provider Akumin has acquired Alliance HealthCare Services for $820 million.

A provider of radiology and oncology solutions, Alliance will join Akumin to create a combined company serving more than 1,000 hospitals and health systems, 154 independent outpatient radiology centers and 34 radiation therapy centers across 46 states.

“Alliance brings an over 30-year history of successful radiology and oncology partnerships with hospitals, health systems and physicians; and Akumin has built and continues to grow its premier outpatient imaging practice. Together we will offer patients and customers profound value unlike any other healthcare solutions company — and we can’t wait to get started,” said Rhonda Longmore-Grund, president and CEO of Alliance, in a statement.

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The combined company is expected to have more than 4,000 team members catering to the needs of two million radiology and oncology patient visits annually.

Alliance already offers outsourced advanced radiology and radiation therapy services in 45 states to more than 1,000 hospitals, health systems and physician practices. Among its offerings are onsite outpatient services and comprehensive service line management, and it provides care with more than 600 diagnostic radiology and radiation therapy systems.

Akumin provides free-standing, fixed-site outpatient diagnostic imaging services to 137 owned and/or operated imaging centers in Florida, Texas, Pennsylvania, Delaware, Illinois, Kansas, Georgia and Massachusetts. It’s staff of over 1,500 team members perform MR, CT, PET, ultrasound, diagnostic X-ray, mammography and other interventional procedures.

“The acquisition of Alliance is transformative in a changing healthcare ecosystem that continues to shift toward outpatient, price-transparent, value-based care,” said Riadh Zine, president and CEO of Akumin. “There’s no other organization that has the complement of attributes we will offer together as outpatient healthcare services experts, in particular with Alliance’s longstanding hospital and health system relationships and Akumin’s free-standing operational expertise.”

Akumin earlier this month inked a deal with Philips to use the latter’s Radiology Operations Command Center to assess performance and create clinical standards for its MR and CT imaging modalities. It also recently acquired in April six free-standing, fixed-site outpatient diagnostic imaging clinics in Florida for a combined $39 million.

The Akumin-Alliance deal is expected to close in the third quarter of 2021 and will be subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.

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