Akumi to acquire US $27.5M revenue business in florida




Akumin Inc. (TSX: AKU.U) through a subsidiary and other related parties, has entered into a definitive agreement to acquire a freestanding, fixed-site outpatient diagnostic imaging business located in Florida for US $27.5 million.

The transcation is expected to in current fiscal quarter.

News Release

Akumin Inc. Agrees to Acquire US$27.5 Million Revenue Business in Florida

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.

About Akumin
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.

For further information:
Riadh Zine
President and Chief Executive Officer
416-613-1391