NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Alliance HealthCare Services, Inc. (NASDAQ:AIQ) (the “Company,” or “Alliance”), a leading national provider of outsourced radiology, oncology and interventional services, announced today that Fujian Thai Hot Investment Co. Ltd. (“Fujian Thai Hot”), Oaktree Capital Management, LLC (“Oaktree”), and other related stockholders have entered into an amendment to the Stock Purchase Agreement among such parties (the “Stock Purchase Agreement”). The Stock Purchase Agreement originally provided that either Fujian Thai Hot or the selling stockholders may terminate the Stock Purchase Agreement if the transaction was not consummated on or prior to January 14, 2016 (the “Termination Date”). On January 5, 2016, the parties to the Stock Purchase Agreement entered into an amendment to revise the Termination Date to February 29, 2016.

Tom Tomlinson, Chief Executive Officer and President of Alliance, said, “We are pleased that the transaction parties have entered into an amendment to the Stock Purchase Agreement, providing evidence of the commitment by all parties to work toward a successful close of this transaction. In addition, having now secured nearly all governmental approvals, we expect the transaction parties to move quickly to close the deal. Throughout this ownership transition our team remains focused on executing against our long-term strategic growth plan.”

Qisen Huang, Founder and Chairman of Fujian Thai Hot, said, “We remain enthusiastic with the Company’s strategic growth plan, and confident that there is significant value in outsourced services, both in the United States as well as the China markets. We are excited to partner with one of the nation’s leading providers of radiology, oncology and interventional services and, together with Alliance’s leadership team, look forward to driving long-term value for all investors.”
As previously announced on September 16, 2015, Fujian Thai Hot agreed to purchase approximately 5,537,945 shares of the Company’s common stock (the “Transaction”) from funds managed by Oaktree, MTS Health Investors, LLC (“MTS”), and Larry C. Buckelew (collectively, the “Selling Stockholders”). Upon completion of the Transaction, Fujian Thai Hot will own an aggregate of approximately 51.5% of the outstanding common stock of the Company. The Company is not selling any shares in the Transaction.

Timeline of Transaction Developments

On October 23, 2015 and October 12, 2015, respectively, Fujian Thai Hot informed the Company that it had received regulatory approvals with respect to the Transaction from the National Development and Reform Commission and the Ministry of Commerce of the People’s Republic of China (“PRC”). As a result, Fujian Thai Hot has received all PRC regulatory approvals required in connection with the closing of the Transaction except, for an Outbound Direct Investment Foreign Exchange Registration Certificate (“Foreign Exchange Certificate”) to be obtained prior to closing from a PRC bank designated by the PRC State Administration of Foreign Exchange to handle outbound investment foreign exchange registrations.

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