Alliance Buying American Shared’s Diagnostic Assets

Alliance Imaging Inc. said it has agreed to buy American Shared Hospital Services’ medical diagnostic-imaging assets for $39.7 million in cash and stock as it continues to expand its medical technologies business through acquisitions.

The company also said that one of its units has completed the acquisition of Mobile Technology Inc. in a transaction valued at $100 million, including the assumption of debt.

“Somebody’s going to be swallowing up the smaller companies,” said Matt Webb, Alliance’s senior financial analyst. “I’d like it to be us.”

With MTI, Alliance said it now operates more than 180 magnetic resonance imaging systems. Alliance is an affiliate of Apollo Management LP.

The purchase price in the American Shared deal consists of $13.6 million in cash and the assumption of $26.1 million in debts from the diagnostic-imaging business.

American Shared is selling equipment and contracts to provide MRI, CT, ultrasound and nuclear diagnostic imaging services to more than 200 hospitals, medical centers and medical offices in 23 states, as well as American Shared’s cardiac catheterization laboratory and respiratory therapy services business.