Alliance HealthCare To Get New Majority Stakeholder

Alliance HealthCare Services Inc. said late Wednesday that a majority of its outstanding shares will be purchased by Chinese investment holding company Fujian Thai Hot Investment Co. Fujian entered an agreement with Oaktree Capital Management LP, MTS Health Investors LLC, and Larry Buckelew to buy about 5.5 million Alliance shares for $102.5 million, or $18.50 a share. Alliance outsources healthcare services such as diagnostic radiology and cancer treatments. The stake represents 51.5% of the outstanding shares in the company, Alliance said. Oaktree owns 44.2% of outstanding shares and MTS owns a 4.3% stake, according to FactSet data. Alliance shares were unchanged after hours at $16.93.