Alliance wins hospital MRI contracts

March 13, 1996

Alliance Imaging of Orange, CA, last week said that it has landedsix-year contracts to provide MRI services to a group of threehospitals on Long Island in New York. Alliance will service thehospitals with a new Siemens 1-tesla Magnetom Impact mobile

Alliance Imaging of Orange, CA, last week said that it has landedsix-year contracts to provide MRI services to a group of threehospitals on Long Island in New York. Alliance will service thehospitals with a new Siemens 1-tesla Magnetom Impact mobile scanner.

Alliance last month reported financial results for 1995 thatshowed a strong jump in net income and a slight increase in revenues.Alliance posted net income of $4.1 million on revenue of $58.1million. In 1994, the company had a loss of $19.1 million on $57.9million in revenue.

Revenue dropped in the fourth quarter, to $13.8 million from$14.9 million in the corresponding period a year ago, in partdue to the divestiture of Alliance's only non-hospital-based imagingcenter. Net income was $522,000, compared with a net loss of $15.5million in the fourth quarter of 1994, when Alliance took a non-recurringcharge related to its restructuring (SCAN 12/28/94).