Alliance HealthCare Services, Inc. (NYSE:AIQ), announced today that, on July 3, 2012, the New York Stock Exchange (NYSE) provided notice to the Company that it was below compliance with the NYSE’s price criteria standard for common stock because the average closing price per share of the Company’s common stock was less than $1.00 per share over a consecutive 30-trading-day period.
Under the NYSE’s rules, in order to cure the deficiency for this continued listing standard, both the Company’s share price and the average share price (over a consecutive 30-trading-day period) must exceed $1.00 within six months following receipt of the non-compliance notice. The Company’s shares will continue to be listed and traded on the NYSE during this period, subject to the Company’s continued compliance with the NYSE’s other listing requirements.
As required by the NYSE rules, the Company will notify the NYSE within 10 business days of receipt of the non-compliance notice, of its intent to cure the price deficiency and return to compliance with this continued listing standard.
As previously announced, the Company is also currently below compliance with the NYSE’s requirement that the Company maintain a minimum average global market capitalization of not less the $75 million and the NYSE’s requirement that the Company have at least three independent directors serving on its Audit Committee. The Company intends to regain compliance with all NYSE listing standards within the applicable time periods required by the NYSE.
About Alliance HealthCare Services
Alliance HealthCare Services is a leading national provider of advanced outpatient diagnostic imaging and radiation therapy services based upon annual revenue and number of systems deployed. Alliance focuses on MRI, PET/CT and CT through its Imaging division and radiation therapy through its Oncology division. With more than 1,900 team members committed to providing exceptional patient care and exceeding customer expectations, Alliance provides quality clinical services for over 1,000 hospitals and other healthcare partners in 46 states. Alliance operates 529 diagnostic imaging and radiation therapy systems. The Company is the nation’s largest provider of advanced diagnostic mobile imaging services and one of the leading operators of fixed-site imaging centers, with 130 locations across the country. Alliance also operates 37 radiation therapy centers, including 18 dedicated stereotactic radiosurgery facilities, many of which are operated in conjunction with local community hospital partners, providing treatment and care for cancer patients. With 18 stereotactic radiosurgery facilities in operation, Alliance is among the leading providers of stereotactic radiosurgery nationwide.