Profile: Alliance HealthCare Services Inc (AIQ.O)

AIQ.O on Consolidated Issue listed on NASDAQ Global Market

2 Oct 2015
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Alliance HealthCare Services, Inc., incorporated on May 27, 1987, is a provider of outpatient diagnostic imaging and radiation therapy services. The Company operates in two segments: Imaging (Radiology) and Radiation Oncology. Radiology segment consists of diagnostic imaging services, including MRI (magnetic resonance imaging), PET/CT (positron emission tomography–computed tomography) and other imaging services. Radiation Oncology segment consists of radiation oncology services. The Company provides radiology and therapeutic services primarily to hospitals and other healthcare providers on a shared-service and full-time service basis. The Company provides services through fixed-site imaging centers, primarily to hospitals or health systems.

The Company's radiology services 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 provides non scan-based services, which include only the use of imaging systems under a short-term contract.

The Company operates its radiation oncology business through its wholly owned subsidiary, Alliance Oncology, LLC. The Company serves 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. The Company's services include the use of 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 505 diagnostic imaging and radiation oncology systems, including 258 MRI systems (of which 19 are operating leases) 124 PET/CT systems (of which nine are operating leases) and 48 radiation oncology systems and served over 1,000 clients in 43 states at December 31, 2014. The Company operated 117 fixed-site imaging centers (one in an unconsolidated joint venture), which constitute systems installed in hospitals or other medical buildings on or near hospital campuses, including modular buildings, systems installed inside medical groups' offices, parked mobile systems and freestanding fixed-site imaging centers, which include systems installed in a medical office building, ambulatory surgical center or other retail space at December 31, 2014. Of the 117 fixed-site imaging centers, 85 were MRI fixed-site imaging centers, 19 were PET/CT fixed-site imaging centers, 13 were other modality fixed-site imaging centers and one was in an unconsolidated joint venture. The Company operated 31 radiation oncology centers and stereotactic radiosurgery facilities (including one radiation oncology center as an unconsolidated joint venture) at December 31, 2014.

The Company's radiation oncology business offers treatment options, including Conventional beam therapy (CBT), three dimensional (3D) 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). 3DCRT 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. SRS/SBRT is delivered with a range of advanced technologies, such as the CyberKnife, Gamma Knife, BrainLab, Novalis-Tx, TrueBeam STx, Trilogy, VERO, TomoTherapy, Elekta Infinity and Axesse.

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 through catheters that are left in place for the entire course of care and then removed when the treatment course is completed.

The Company provides radiology services and radiation oncology services through Outsourced, Hospitals and clinics, and Independent centers. 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. Imaging and/or radiation oncology systems are located in a hospital or clinic. The hospital or clinic contracts with the radiology service provider to perform scans of its patients and that hospital or clinic instead of a third-party payor pays the radiology service provider directly. 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. Independent centers systems are located in permanent facilities not generally owned by hospitals or clinics. These centers depend upon physician referrals for the patients and generally do not maintain dedicated contractual relationships with hospitals or clinics.

The Company competes with RadNet, Inc., Center for Diagnostic Imaging, 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. and US Oncology, Inc.

Company Address

Alliance HealthCare Services Inc

Suite 400, 100 Bayview Circle
P: +1949.2425300
F: +1302.6555049

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