Alliance HealthCare pays $15 million on loan, down 22% since Sept. 30

By Toni Weeks

San Luis Obispo, Calif., April 2 - Alliance HealthCare Services, Inc. voluntarily repaid $15 million under its senior secured term loan on March 28, according to a press release.

"Our organic adjusted EBITDA growth, strong cash-flow generation and proceeds from our sale/leaseback transaction have enabled us to repay a total of $90 million of Alliance's total debt, or 22% of the balance of our senior secured term loan and 14% of our total debt outstanding, since Sept. 30, 2012," executive vice president and chief financial officer Howard Aihara said in the release. "Continuing to pay down debt and reducing our total and senior secured leverage ratios remains a top priority at Alliance."

As of Dec. 31 and taking into account the debt repayment, the company's pro forma total debt was $543.6 million, and the outstanding balance on the term loan stood at $320.3 million.

Alliance's pro forma total leverage ratio was 3.79, down from the 3.89 figure reported on Dec. 31. The company's pro forma senior secured leverage ratio was 2.47, down from the 2.58 reported at year's end.

Newport Beach, Calif.-based Alliance provides advanced outpatient diagnostic imaging and radiation therapy services.

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