Report: Medical Services Company Alliance in $590M Debt DealWednesday, June 15, 2011
Newport Beach-based Alliance Healthcare Services Inc., a provider of medical scanning and cancer treatment services, is looking to borrow $590 million to pay off existing debt.
Alliance is looking to take out a $470 million term loan and a $120 million revolving line of credit, according to a Bloomberg report citing a source familiar with the deal.
Barclays PLC, Deutsche Bank AG and SunTrust Banks Inc. are arranging the deal, according to Bloomberg.
Alliance provides magnetic resonance imaging, and positron emission tomography and other medical scanning services to doctors and hospitals.
The company also runs facilities that administer radiation treatments to cancer patients.
Alliance runs about 535 diagnostic imaging and cancer treatment facilities. The company has yearly revenue of about $500 million.
As of Dec. 31, Alliance had about $653 million in debt.