A Medical Device Daily

Alliance Imaging (Anaheim, California) reported that it intends to offer, subject to market and other conditions, $125 million of senior subordinated notes in a private offering.

Alliance, which provides diagnostic medical imaging services, said it will use the net proceeds to repay borrowings under, and terminate, its acquisition credit agreement, dated Nov. 5, 2007.

It said that the remaining proceeds will be used for funding of future acquisitions and general corporate purposes.

In other financing news:

• RadPharm (Princeton, New Jersey), a provider of medical image review services for clinical research, reported the completion of a $10 million Series B financing led by Siemens Venture Capital (SVC). Existing investors Ampersand Ventures, Adams Street Partners and Tang Capital Management participated in the financing. "Siemens brings a wealth of expertise in medical imaging and clinical research, and we are delighted to welcome them as an investor," said Ronald A. Berg, President and CEO of RadPharm. "This financing marks another key milestone for RadPharm in a year that has included strong growth in revenues and backlog, the opening of an office in Munich, and further expansion of RadPharm's customer base. RadPharm is well-positioned to continue expanding its offering of core laboratory services for drug development."
• Clinicient (Portland, Oregon) said it closed $5 million in funding from Village Ventures and Highway 12 Ventures. Clinicient partners with outpatient rehabilitation clinics to help clinics grow revenue by combining software, services, and industry-specific knowledge to reduce errors and improve efficiency. The company said that the new investment will be used to build the next generation of software-enabled revenue cycle management, specific to the outpatient rehabilitation market, which includes extending a proprietary knowledge base and rules engine, expanding an expert-level billing service and growing the company to meet the increasing demand for their solution. "Traditionally, outpatient rehabilitation clinics have had the option of purchasing software and managing a billing staff or outsourcing billing. These methods have failed to produce results, causing the business model to change in the market," said Jim Plymale, CEO of Clinicient. "We've taken a unique approach to solving this problem and are positioned to provide our customers with a level of service not previously possible, so they can focus on patient care."