Alliance to Expand Services: Alliance Imaging Inc....

Alliance to Expand Services: Alliance Imaging Inc. has acquired a Macon, Ga., company that will allow it to expand its diagnostic imaging services to seven Southeastern states.

La Palma-based Alliance acquired Atlantic/Gulf Magnetic Imaging Consortium Inc. in a stock and cash transaction valued at $12.3 million.

The acquisition will add 10 more of the magnetic resonance imaging units to the Orange County company’s existing 57 units operating in 18 states, said Richard N. Zehner, Alliance’s chairman, president and chief executive.

As part of the acquisition agreement, Alliance has paid off $4.2 million of Atlantic/Gulf’s debt and assumed its remaining $1.5 million in existing debt.

Atlantic/Gulf will operate under the name of Atlantic/Gulf Imaging Inc.

Alliance reported 1991 net income of $1.3 million on sales of $52 million. Atlantic/Gulf reported income before taxes of $848,000 on sales of $8.5 million.