Alliance to buy PET/CT provider for $43M
The company said that the total purchase price of SPI is expected to total approximately $43 million in cash and assumed indebtedness.
“Alliance believes that the expansion of PET/CT’s critical role in cancer detection and related treatment planning will result in continued overall growth in patient procedures. As part of our plan to expand Alliance’s strategic position as a national leader in PET/CT services, we are pleased to be able to move forward and combine our respective organizations in the Midwest, Southeast and Northeast United States,” said Paul S. Viviano, chairman of the board and CEO of the Newport Beach, Calif.-based Alliance.
SPI currently generates approximately $29 million of annual revenue and serves approximately 90 clients in 13 states, including Ohio, Michigan, Indiana, Illinois, Florida, Pennsylvania, New York, Tennessee and South Carolina, according to Alliance.