The Medical University of South Carolina (MUSC), one of the nation's top academic health science centers, and Alliance Oncology, a division of Alliance HealthCare Services, Inc. (NASDAQ: AIQ), announce a newly formed affiliation designed to strengthen and expand MUSC's Hollings Cancer Center as the radiation therapy market leader in Charleston, South Carolina.
Through this long-term affiliation, Alliance Oncology will work with Hollings Cancer Center and its affiliated physicians to deliver market and operational support, as well as management services for the entire radiation therapy department. This encompasses Hollings' inpatient, outpatient, and satellite locations where radiation therapy treatments are performed and comprises all current radiation therapy services, including an arrangement to evaluate and expand Hollings' presence throughout the region.
As a provision of the new affiliation, improvements to MUSC's Hollings Cancer Center include: multiple new radiation therapy and radiosurgery technologies and equipment, new physics and radiation treatment systems—providing cutting-edge radiation therapy and stereotactic radiosurgery treatment advancements for cancer patients in the South Carolina region.
Radiation therapy destroys cancer cells that divide quickly, thus helping to stop the spread of cancer at the tumor site and reducing the risk of cancer metastasizing throughout the body. Stereotactic radiosurgery (SRS) uses extremely accurate image-guided tumor targeting and patient positioning. Therefore, a high dose of radiation can be given in a shorter amount of time without excess damage to normal tissue.
"Alliance's proven operational and management services, combined with their ability to deliver capital for innovative technology offers MUSC the tools needed to continue to lead the way in providing outstanding clinical care in radiation therapy, says Dr. Patrick Cawley, CEO of the Medical University of South Carolina. "Their commitment to clinical collaboration with our physician staff and advanced technology and operational excellence in combination with our clinical expertise, ensures Hollings Cancer Center will continue to set the standard as the only National Cancer Institute (NCI) designated center in South Carolina."
MUSC's Hollings Cancer Center is one of only 41 comprehensive cancer care centers in the United States and the only NCI-designated cancer center in South Carolina. The center's locations serve Charleston and the entire South Carolina region.
"We are excited to announce Alliance's affiliation with the Medical University of South Carolina, an admired and respected academic institution, and the Hollings Cancer Center," says Tom Tomlinson, Chief Executive Officer and President of Alliance HealthCare Services. "We are proud to support MUSC's vision of building hope, improving lives and serving society, and we are confident that this new relationship will provide better cancer treatment options for people who live and work in the Charleston area, as well as the entire state of South Carolina."
This affiliation is anticipated to generate over $11 million of Alliance Oncology revenue.
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