Alliance posts stellar first quarter
Recent acquisitions paid off in revenue and income growth for mobile imaging services provider Alliance Imaging in its first quarter (end-March).The Orange, CA, company reported 30% revenue growth, with sales of $19.1 million in the most recent quarter,
Recent acquisitions paid off in revenue and income growth for mobile imaging services provider Alliance Imaging in its first quarter (end-March).
The Orange, CA, company reported 30% revenue growth, with sales of $19.1 million in the most recent quarter, compared with $14.7 million in the same period the year before. Income before extraordinary items rose 25% to $1.7 million compared with the first quarter of 1996, while net income was $4.9 million.
CEO Richard Zehner credited procedural growth from new marketing programs and corporate acquisitions for the improvement. MRI utilization jumped by 33% to over 40,000 scans in the first quarter, he said. Alliance's new acquisitions-Royal Medical Health Services and Sun MRI Services-helped raise its quarterly revenue total by $2 million.
In other Alliance Imaging news, the company this month signed seven-year deals to provide MRI services to Washington Hospital in Fremont, CA, and CGH Medical Center in Sterling, IL.