Newport Beach-based Alliance HealthCare Services Inc. said Tuesday that it is buying a Tennessee cancer surgery company for about $53 million in cash and debt.
Alliance, a provider of diagnostic imaging and radiation for treating cancer, is acquiring Nashville-based US Radiosurgery LLC.
US Radiosurgery, which has yearly revenue of $29 million, operates eight surgery centers in eight states.
Its centers are owned by partnerships among itself, doctors and hospitals. The company will become part of Alliance’s oncology business.
Cancer screening and treatment has been a big strategic thrust for Alliance in recent years.
The US Radiosurgery deal also led Alliance to hike its 2011 revenue projection.
Alliance now expects full-year revenue of $500 million to $530 million, up from a previous forecast of $475 million to $505 million.
Analysts expect Alliance to have $476.2 million in full-year revenue.
Alliance’s shares were up about 5% with a market value of $227 million in Tuesday trading on news of the deal.
