Alliance Oncology buys cancer centers

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Alliance Oncology has announced that its affiliate, Alliance Oncology, has purchased eight radiation therapy centers in Alabama, Arkansas, Mississippi and Missouri from Bethesda Resources of Carterville, Ill., for approximately $36 million in cash and assumed debt.

Many of these cancer centers are sole community providers located on or near hospital campuses, operating under certificates of need (CONs), according to Anaheim, Calif.-based Alliance.

The company said the acquisition was financed through internally generated funds, borrowings under credit facilities and capital leases.

Paul Viviano, chairman of the board and CEO said, “Bethesda is a good fit with Alliance given that many of the Bethesda centers are sole community providers which are located on hospital campuses with the benefit of CONs. This transaction provides a platform for further growth of Alliance Oncology and positions us well to take advantage of other acquisition opportunities in the radiation therapy sector.”