Profile: Alliance HealthCare Services Inc (AIQ.O)

AIQ.O on Consolidated Issue listed on NASDAQ Global Market

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11 Jul 2014
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Alliance Healthcare Services, Inc., incorporated on May 27, 1987, is a national provider of advanced outpatient diagnostic imaging and radiation therapy services. The Company provides imaging and therapeutic services primarily to hospitals and other healthcare providers on a shared-service and full-time service basis. The Company also provides services through fixed-site imaging centers, primarily to hospitals or health systems. The Company’s services normally include the use of its imaging systems, technologists to operate the systems, equipment maintenance and upgrades and management of day-to-day shared-service and fixed-site diagnostic imaging operations. The Company also provides non scan-based services, which include only the use of its imaging systems under a short-term contract. In April 2011, the Company acquired 24/7 Radiology, a professional radiology services Company. In April 2011, the Company purchased all of the outstanding membership interests of US Radiosurgery, LLC .

The Company operates its radiation oncology business through wholly owned subsidiary, Alliance Oncology, LLC, (Radiation Oncology Division). This division includes a range of services for cancer patients covering initial consultation, preparation for treatment, simulation of treatment, actual radiation oncology delivery, therapy management and follow-up care. Its services include the use of its linear accelerators or stereotactic radiosurgery systems, therapists to operate those systems, administrative staff, equipment maintenance and upgrades and management of day-to-day operations.

The Company had 573 diagnostic imaging and radiation oncology systems, including 309 MRI systems and 128 positron emission tomography (PET) or PET/CT systems, and served over 1,000 clients in 46 states as of December 31, 2011. The Company operated 133 fixed-site imaging centers (two in unconsolidated joint ventures), which constitute systems installed in hospitals or other medical buildings on or near hospital campuses, including modular buildings, systems installed inside medical groups’ offices, and free-standing fixed-site imaging centers, which include systems installed in a medical office building, ambulatory surgical center, or other retail space as of December 31, 2011. Of the 133 fixed-site imaging centers, 104 were MRI fixed-site imaging centers, 20 were PET or PET/CT fixed-site imaging centers, seven were other modality fixed-site imaging centers and two were in unconsolidated joint ventures. The Company also operated 36 radiation oncology centers and stereotactic radiosurgery facilities (including three radiation oncology centers in unconsolidated joint ventures) at December 31, 2011.

The Company’s radiation oncology business offers treatment options, including Conventional beam therapy (CBT), three dimensional (3-D) conformal radiation therapy (3D-CRT), Intensity modulated radiation therapy (IMRT), Image guided radiation therapy (IGRT), Stereotactic radiosurgery (SRS) and Stereotactic Body Radiotherapy (SBRT, Low dose rate brachytherapy (LDR) and High dose rate brachytherapy (HDR).

CBT is the radiation therapy delivered by a linear accelerator. It uses two dimensional planning, and is typically reserved for use in patients where a cure is not envisioned (palliative care). 3D-CRT uses three dimensional imaging data and three dimensional treatment planning to plan and deliver linear accelerator radiation treatments. It is the common form of technology used in practices and supplanted by IMRT and IGRT when the specific case requires it. IMRT entails the use of hundreds to thousands of beams or beamlets of radiation delivered by a linear accelerator whose intensity is adjusted individually during that actual treatment delivery to allow the radiation that is delivered to conform as closely as possible to the three dimensional volume of the tumor and simultaneously reduce the dose to neighboring normal healthy tissues.

IGRT uses a number of different types of imaging technologies to localize the patient and the tumor target volume at the time of each treatment delivery to ensure that the radiation is delivered to the correct location. IGRT is used in support of forms of treatment delivery, such as 3D-CRT, IMRT, stereotactic body radiotherapy and stereotactic radiosurgery. SRS/SBRT delivers a high dose of radiation in one to five treatments. SRS/SBRT is delivered with a range of technologies such as the CyberKnife, Gamma Knife, Novalis-TxTM, TrueBeam STxTM, VERO, TomoTherapy, Elekta InfinityTM and AxesseTM.

The Company’s LDR allows the radiation oncologist to treat cancer by delivering the dose of radiation from the inside out. Radioactive isotopes encased in a metal jacket the size of a grain of rice (seeds) are implanted in the tumor through needles, with the seeds permanently left in place. The radioactive isotopes decay over time (hours to days) to an inert form and in the process gradually release ionizing radiation therapy over short distances thereby treating the cancer over time. HDR allows the radiation oncologist to treat cancer by delivering the dose of radiation from the inside out. HDR utilizes temporary seeds, made of radioactive isotopes. These seeds are inserted and removed several times, over several minutes, one to two times per day, for five days or less, through catheters (thin hollow tubes) that are left in place for the entire course of care and then removed when the treatment course is completed.

The Company provides diagnostic imaging services and radiation oncology services in hospitals and clinics, independent imaging and radiation oncology centers and outsourced. In hospitals and clinics, imaging and/or radiation oncology systems are located in and owned and operated by a hospital or clinic. These systems are primarily used by patients of the hospital or clinic, and the hospital or clinic bills third-party payors, such as health insurers, including Medicare or Medicaid. In independent imaging and radiation oncology centers, imaging and/or radiation oncology systems are located in permanent facilities not generally owned by hospitals or clinics. These centers depend upon physician referrals for their patients and generally do not maintain dedicated, contractual relationships with hospitals or clinics. These centers bill third-party payors for their services. In outsourced settings imaging systems, located in mobile trailers but also provided in fixed facilities, provide services to a hospital or clinic on a shared-service or full-time basis.

The Company competes with RadNet, Inc., InSight Health Services Corp., Diagnostic Imaging Group, American Radiology Services, Medquest, Inc., Shared Medical Services, Kings Medical Company Inc., DMS Health Group, Radiation Therapy Services, Inc., Vantage Oncology, Inc., Oncure Medical Corp. and US Oncology, Inc.

Company Address

Alliance HealthCare Services Inc

Suite 400, 100 Bayview Circle
NEWPORT BEACH   CA   92660
P: +1949.2425300
F: +1302.6555049

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