Newport Beach-based Alliance HealthCare Services Inc. may consider putting itself up for sale, according to a report published today.

Shares of Alliance were up 5% to a market value of about $307 million on the news.

Alliance provides medical imaging and radiation oncology services to more than 1,000 hospitals. Los Angeles-based Oaktree Capital Management LP owns 44% of Alliance.

Reuters reported that unnamed sources said that Alliance has hired Moelis & Co., a New York-based investment bank, to assist in exploring a potential sale.

Alliance and Moelis did not comment.