Akumin Inc. Agrees to Acquire US$27.5 Million Revenue Business in Florida
News Provided by Akumin Inc. / Aug 1, 2018. 8:00am ET
August 1, 2018 – Toronto, ON – Akumin Inc. (TSX: AKU.U) (“Akumin” or the “Corporation”) announced today it has, through a subsidiary and other related parties, entered into a definitive agreement to acquire a freestanding, fixed-site outpatient diagnostic imaging business located in Florida. This acquisition is expected to add approximately US$27.5 million of revenue based on the last twelve months of the period ended March 31, 2018. Closing of the transaction is expected to occur in this fiscal quarter and remains subject to customary conditions as well as a financing condition. The Corporation will provide further updates in respect of this transaction in due course.
Akumin is a leading provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States with a network of 78 owned and/or operated imaging centers located in Florida, Texas Pennsylvania, Delaware, Illinois and Kansas. By combining clinical expertise with the latest advances in technology and information systems, Akumin’s centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders and may reduce unnecessary invasive procedures, minimizing the cost and amount of care for patients. Akumin’s procedures include MRI, CT, positron emission tomography (PET), ultrasound, diagnostic radiology (X-ray), mammography, and other non-interventional and interventional procedures. Akumin’s common shares trade on the Toronto Stock Exchange under the symbol AKU.U. For additional information, see www.akumin.com.
This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Akumin and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits Akumin will derive from those events.
SOURCE Akumin Inc.
For further information: Riadh Zine, President and Chief Executive Officer, 416-613-1391