| 15 September 2001 |
ALLIANCE IMAGING, INC. SIGNS MERGER AGREEMENT WITH KOHLBERG KRAVIS ROBERTS & CO.
Alliance Imaging, Inc. today announced the completion of its merger, effective Nov. 2, 1999, with an affiliate of Kohlberg Kravis Roberts & Co. L.P. ("KKR") and a recapitalization of the Company.
In the merger, approximately 95% of the fully diluted common stock of Alliance (excluding options and warrants) was retired. As a result of the merger, KKR owns approximately 90% of the common stock of Alliance on a fully diluted basis and existing shareholders and option holders will own approximately 10%.
Alliance's outstanding debt was repaid in the merger. After payment of the Company's outstanding Preferred Stock and payment of transaction expenses, the Company's common shareholders will receive approximately $56 per share in cash.
Alliance is a leading provider of comprehensive diagnostic imaging and therapeutic services to hospitals and other health care providers. Services are provided on either a mobile, shared-user or on a full-time single-user basis. For more information about Alliance via facsimile, call 800/PRO-INFO and dial client code "SCAN".
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