NEWPORT BEACH, CA & MAUI, HI – October 27, 2015 – Alliance Oncology, a division of Alliance HealthCare Services, Inc. (NASDAQ:AIQ), a leading national provider of outsourced healthcare services, announced today it has executed an agreement to form a partnership with Pacific Cancer Institute (PCI), a radiation oncology center founded by Bobby Baker, M.D., to acquire a 95% controlling interest in the center. Alliance Oncology believes PCI will be a strategic partner to further expand its footprint, while adding value to Alliance Oncology’s vast network of physicians and physicists. The closing of the transaction is subject to various conditions that are expected to be satisfied prior to the end of the year.
“We are very excited to add a new partnership with stellar clinical care to our national network of centers,” said Greg Spurlock, President of Alliance Oncology. “Dr. Baker has developed and led this state-of-the-art center, and will continue to be the medical director going forward.”
Alliance Oncology, an industry leader in radiation oncology center development, partners directly with hospitals, radiation oncologists and other healthcare providers to establish and operate radiation therapy programs. Providing a full range of service line capabilities (inpatient and outpatient), Alliance Oncology’s fully integrated, comprehensive approach to cancer care affords its partners the speed-to-market, quality clinical outcomes, and operational expertise that sets them apart from the competition.
“I am excited to form this partnership with Alliance Oncology, whose president I have known for years,” said Bobby Baker, M.D. “Together, we are going to continue to provide high-quality cancer care with Hawaii’s only TrueBeam™ STx. They will ensure that I can leave the legacy that I started 21 years ago by providing cutting-edge technology for Maui’s cancer patients for generations to come.”
PCI has been a part of the community of Hawaii for 21 years and is focused on radiation oncology treatments. PCI has an expected annual revenue of $6.3 million for 2015. In early 2012, PCI constructed a new 2,500 square foot addition to the existing center at 227 Mahalani Street, Maui, Hawaii 96793 and commissioned new equipment, services and doctors to accommodate the patients of Hawaii. As the only radiation therapy provider on the island of Maui, PCI delivers care utilizing a state-of-the-art TrueBeam STx System, offering both conventional radiation therapy and stereotactic radiosurgery. Patient benefits include no anesthesia or hospitalization, minimal radiation exposure to healthy tissue, minimal recovery time and immediate return to daily activities.
The PCI facility includes a full radiation therapy team: radiation oncologists, medical physicists, nurses, and radiation therapists who work with patients to develop customized cancer treatment plans and will continue treating patients throughout the acquisition. Practicing radiation oncology physicians include Bobby Baker, M.D., FACRO, FACR and associates.
“As we discussed during our initial 2015 guidance call in March of this year, we continue to be confident that the investments we’ve made in the Alliance Oncology team position us to deliver double-digit growth going forward. The transaction with PCI is further evidence that this confidence is well placed. We are delighted to be partnering with Dr. Baker to continue the success of the cancer care clinic he established more than two decades ago. The Alliance Oncology pipeline of new opportunities continues to remain very strong and we are looking forward to continued success in 2016,” said Tom Tomlinson, Chief Executive Officer of Alliance HealthCare Services.
About Pacific Cancer Institute
Located in the green hills above Central Maui, the Pacific Cancer Institute of Maui is dedicated to the very latest in cancer treatment technology provided by highly skilled medical professionals in a warm, healing environment. The facility is conveniently adjacent to Maui Memorial Medical Center and staffed with an outstanding team of Board-Certified physicians under the direction of radiation oncologist, Bobby C. Baker, M.D. As founder of PCI Maui, Dr. Baker is thoroughly experienced in the development and management of cancer treatment facilities. His interest in radiation oncology evolved when he realized he could treat cancer by combining his skills as a physician and chemical engineer with his knowledge of computer technology and physics. Today, Dr. Baker and his staff are totally committed to providing state-of-the-art cancer treatment to patients on Maui as well as the Pacific region. For more information, visit http://www.pacificcancerinstitute.com.
About Alliance HealthCare Services
Alliance HealthCare Services (NASDAQ: AIQ) is a leading national provider of outsourced healthcare services with a 30+ year track record of award-winning patient care/satisfaction and service line expertise. Providing diagnostic radiology services through its Radiology Division (Alliance HealthCare Radiology), interventional radiology & pain management services through its Interventional Services Division (Alliance HealthCare Interventional Services) and radiation oncology services through its Oncology Division (Alliance HealthCare Oncology), Alliance is the nation’s largest provider of advanced diagnostic mobile imaging services, an industry-leading operator of fixed-site imaging centers, and a leading provider of stereotactic radiosurgery nationwide. As of June 30, 2015, Alliance operated 518 diagnostic imaging and radiation therapy systems, including 118 fixed-site imaging centers across the country; and 32 radiation therapy centers and stereotactic radiosurgery (SRS) facilities. With a strategy of partnering with hospitals, health systems and physician practices, Alliance provides quality clinical services for over 1,000 hospitals and other healthcare partners in 44 states where approximately 1,800 Alliance Team Members are committed to providing exceptional patient care and exceeding customer expectations. For more information, visit https://www.alliancehealthcareservices-us.com.