Outpatient Imaging Affiliates News

Outpatient Imaging Affiliates Acquires Seven Imaging Centers

OUTPATIENT IMAGING AFFILIATES ANNOUNCES ACQUISITION OF SEVEN CENTERS

Nashville, TN – Outpatient Imaging Affiliates, LLC (“OIA”), a national owner and operator of outpatient imaging centers, announced today its acquisition of seven outpatient imaging centers from Diagnostic Health Corporation (“DHC”). The centers are located in Tennessee, Alabama and Colorado; the terms of the transaction were not disclosed.

The acquisition of these seven locations continues OIA’s controlled growth strategy that includes the recent Mobile PET/CT expansion and center acquisition in Philadelphia through its joint venture with Thomas Jefferson University. OIA also recently announced the development of a new center in Virginia as a part of its University of Virginia Health System joint venture and also a new location in North Carolina alongside Raleigh Radiology. Cannon King, OIA’s Executive Vice President for Development, comments “These new centers are in good markets with excellent opportunities for growth. We feel confident that OIA’s resources and years of experience as an owner and operator of quality centers will lead to improved performance from these centers. Consistent with our philosophy, OIA’s strategic vision for these centers includes their use as a platform for future joint venture or expansion opportunities in their respective markets.”

The outpatient imaging industry is entering a new era that will require significant changes to maintain the same level of results. OIA’s Chief Executive Officer Frank Kyle explains, “Our industry is faced faced with a number of challenges but, we believe, equally as many opportunities. Over the long term, our management team remains bullish on the outpatient imaging sector. Our view is that a quality, fullservice imaging center is, and will remain, the most cost‐effective, productive and customer‐friendly setting in which to perform the vast majority of outpatient radiology services. A key to OIA’s strategy is to remain disciplined and highly selective in identifying attractive markets as well as centers within each market. These centers meet our criteria and our management team is looking forward to welcoming these new facilities into our network of centers.”