Alliance Imaging Wraps Purchase of Firm

Anaheim-based Alliance Imaging Inc. said Friday that it completed its acquisition of Three Rivers Holding Corp., the parent of SMT Health Services Inc., for $39.5 million in stock. As part of the deal, Alliance, a provider of magnetic resonance imaging services, also refinanced $62 million in bank debt held by SMT, which provides MRI services in Kentucky, Tennessee, Virginia and West Virginia.

Both companies are controlled indirectly by investor Leon Black’s Apollo Management LP. Alliance stock, which trades over the counter, last sold for $24 on May 7.