NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Alliance HealthCare Services, Inc. (NASDAQ:AIQ), a leading national provider of outsourced radiology, oncology and interventional services, announces a new joint venture partnership with PRC Associates, LLC (“PRC”). PRC is a premier provider of interventional pain management services in Florida, delivered at eight locations in Central Florida and the Palm Coast.
As part of the transaction, Alliance acquired a 60% ownership position in the joint venture through its Alliance HealthCare Interventional Partners division. As of June 2015, PRC’s annual revenues were approximately $12 million. PRC’s current physician partners, including founder Vinod Malik, M.D., will hold the remaining interests. Dr. Malik will continue to serve as Medical Director for PRC, leading a team of nine interventional pain management physicians.
“This partnership builds upon Alliance’s interventional services growth strategy. Our focus is to provide innovative interventional therapeutic care through a national network of aligned practices under Alliance HealthCare Interventional Partners,” said Tom Tomlinson, Chief Executive Officer and President of Alliance HealthCare Services. Tomlinson continues, “PRC has a phenomenal reputation in the marketplace and is a leader in care for chronic pain patients. I am delighted to welcome PRC as a part of the Alliance family.”
Earlier this year, Alliance announced a partnership with The Pain Center of Arizona (TPC) and founder Steven Siwek, M.D. Dr. Siwek currently serves as President of the Alliance HealthCare Interventional Partners segment and is charged with advancing pain management care on a national scale, which includes TPC and PRC.
“Dr. Malik and the PRC care team are pioneers in the pain management space. Together, PRC and TPC, under Alliance HealthCare Interventional Partners, will continue to advance pain care excellence and therapeutic options while strategically growing our national footprint,” says Dr. Siwek.
About PRC Associates, LLC
PRC Associates, LLC (“PRC”) was founded to help patients in chronic pain as the most important goal. PRC offers the latest up to date treatments for all modalities of pain management and state-of-the-art fluoroscopic equipment along with various locations in Volusia, Flagler and Seminole county. For more information, visit www.interventionalpainmngt.com.
About Alliance HealthCare Services
Alliance HealthCare Services (NASDAQ: AIQ) is a leading national provider of outsourced healthcare services with a 30+year track record of award-winning patient care/satisfaction and service line expertise. Providing diagnostic radiology services through its Radiology Division (Alliance HealthCare Radiology), interventional radiology & pain management services through its Interventional Services Division (Alliance HealthCare Interventional Services) and radiation oncology services through its Oncology Division (Alliance HealthCare Oncology), Alliance is the nation’s largest provider of advanced diagnostic mobile imaging services, an industry-leading operator of fixed-site imaging centers, and a leading provider of stereotactic radiosurgery nationwide. As of September 30, 2015, Alliance operated 532 diagnostic imaging and radiation therapy systems, including 116 fixed-site imaging centers across the country; and 30 radiation therapy centers and stereotactic radiosurgery (SRS) facilities. With a strategy of partnering with hospitals, health systems and physician practices, Alliance provides quality clinical services for over 1,000 hospitals and other healthcare partners in 44 states where approximately 2,050 Alliance Team Members are committed to providing exceptional patient care and exceeding customer expectations. For more information, visit www.alliancehealthcareservices-us.com.