Davis Polk is advising Fujian Thai Hot Investment Co., Ltd in connection with its purchase of approximately 51.5% of the common stock of Alliance HealthCare Services, Inc. Fujian Thai Hot agreed to purchase 5,537,945 shares of Alliance HealthCare’s common stock from funds managed by Oaktree Capital Management, L.P., MTS Health Investors, LLC and Mr. Larry C. Buckelew for approximately $102.5 million, or $18.50 per share. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2015.

Alliance HealthCare is a leading national provider of outsourced health care services, including diagnostic radiology services, interventional radiology and pain management services, and radiation oncology services. Alliance is the nation’s largest provider of advanced diagnostic mobile imaging services, an industry-leading operator of fixed-site imaging centers, and a leading provider of stereotactic radiosurgery nationwide. Fujian Thai Hot is an investment holding company based in Fuzhou, China, holding a diversified portfolio of assets in various industries including real estate development, securities, hospitality, biomedicine and health care. Thai Hot was founded in 1996 and its total assets exceeded $10 billion as of December 31, 2014.

The Davis Polk corporate team included partner Howard Zhang and registered foreign lawyer Ming Chi. Partner John B. Reynolds III, counsel Jeanine P. McGuinness and associate Joseph Kniaz provided regulatory advice. Members of the Davis Polk team are based in the Beijing, Hong Kong and Washington DC offices.