Alliance HealthCare To Form Strategic Affiliation With ONRAD; Divests Unit

(RTTNews) - Alliance HealthCare Services, Inc. (AIQ), a provider of radiology and radiation therapy services, Monday announced that it has sold its unit Radiology 24|7, LLC to ONRAD, Inc., a full service radiology provider, as part of a strategic affiliation between both companies.

The company expects the strategic affiliation to help 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.

The divesting unit Radiology 24|7 generates approximately $15 million of annualized revenue.

Tom Tomlinson, Chief Executive Officer and President of Alliance HealthCaresaid, "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."