Akumin Inc. (TSX:AKU.U) announced today that its wholly owned subsidiary, Preferred Medical Imaging, LLC, has completed its previously announced acquisitions of all of the outstanding non-controlling interests in seven of its existing Texas-based diagnostic imaging centers. The Acquisitions relate to certain operations carried on in Austin, Fort Worth, Frisco, Grapevine/Colleyville, Irving, Plano and Round Rock.  The aggregate consideration paid for the Acquisitions was approximately US$21.6 million, comprised of an aggregate cash payment of approximately US$17.9 million and the issuance of approximately US$3.7 million of common shares in the capital of the Company.

Riadh Zine, President and Chief Executive Officer of the Company, said, “The acquisition of the non-controlling interests in these centers simplifies our corporate structure and is also accretive to our shareholders.”

The Toronto Stock Exchange does not approve or disapprove of the adequacy or accuracy of this release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws. Accordingly, the common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Akumin in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Akumin

Akumin Inc. is a leading provider of outpatient diagnostic imaging services in the United States with 78 centers located in Florida, Pennsylvania, Delaware, Texas, Illinois and Kansas. Akumin’s centers provide physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders, and therefore reducing unnecessary invasive procedures, minimizing the cost and improving outcomes for patients. Our imaging procedures include MRI, CT, positron emission tomography (PET), ultrasound, X-ray, mammography and other diagnostic or interventional radiology procedures.