(AIQ) Provides Business Update

Alliance HealthCare Services, Inc. (NASDAQ:AIQ) (the “Company” or “Alliance”), a leading national provider of outsourced diagnostic imaging through its Alliance HealthCare Radiology Division (“Alliance Radiology”), interventional radiology & pain management services through its Interventional Services Division (“Alliance HealthCare Interventional Partners”) and radiation therapy services through its Alliance HealthCare Oncology Division (“Alliance Oncology”), announced today that it is affirming the guidance issued for its fiscal year 2015 and is pleased to provide a business update to its shareholders.

Recent Business Highlights

• Growth strategy for the core business remains intact and the Company affirms 2015 fiscal year guidance
• Purchase of majority interest by Fujian Thai Hot Investment Co., Ltd (“Thai Hot”)
• Expects to appoint three new board members from Thai Hot including Kisum Wong, Yong Ge and Tao Zhang

Full Year 2015 Guidance

Alliance is affirming its full year 2015 guidance as noted in its second quarter 2015 earnings call on August 6, 2015. Tom Tomlinson, Chief Executive Officer and President of Alliance HealthCare Services, stated, “The recent news regarding a change in ownership for approximately 51.5% of the company’s shares does not imply a change in strategic direction or financial outlook for the company. As we noted in last week’s press release related to the sale of shares by Oaktree Capital Management, L.P. (‘Oaktree’) and other parties, the company remains very focused on executing the strategic initiatives in the U.S. that we have previously articulated. In making its investment, Thai Hot performed extensive due diligence utilizing world-class advisors and confirmed their strong support for the company’s strategic direction and leadership.”

Tomlinson continued, “While we view the transaction between Oaktree and Thai Hot as a positive development for the Company, we see it primarily as an investor event more than a company event. As clearly evidenced by the progress we are making in returning Alliance to growth, as we have discussed on recent earnings calls, the leadership team remains confident in our strategy and execution. Based on discussions with the prospective new Board members, we will remain focused on the strategic growth plan we have outlined as we strive to create long-term value for our shareholders. To reiterate, the key components of this plan include (1) leveraging our strong value proposition and pipeline in our oncology business to drive continued strong growth in that business, (2) deploying our expanded radiology offering, called RAD360™, through new and existing hospital relationships, and (3) expanding our newest platform, Alliance HealthCare Interventional Partners, across both new and existing geographic markets.”

Further Background on Fujian Thai Hot Investment Co., Ltd

As previously announced on September 16, 2015, Fujian Thai Hot Investment Co., Ltd (“Thai Hot”) agreed to purchase approximately 51.5% of the outstanding common stock of the Company. Thai Hot is an investment holding company with a diversified portfolio of assets in various industries including investments in biomedicine and healthcare with assets totaling more than $1 billion dollars. Thai Hot’s healthcare investments include a controlling ownership of 92.5% of the total equity in Fujian Huitian Biomedicine Company, which is a large-scale pharmaceutical company with more than 80 kinds of active pharmaceutical ingredients and drugs. Thai Hot also has strong relationships with premier hospitals in China, including the General Hospital of Chinese Liberation Army and Beijing Union Medical College Hospital. Management does not believe that any of Thai Hot’s investments create any conflicts for the Company.

Thai Hot Investment is also the majority shareholder of Thai Hot Group, a listed company on the Shenzhen Stock Exchange. It holds 609,400,795 shares, accounting for 59.91% of Thai Hot Group’s total equity. Thai Hot Group is a company with its core focus on real estate development with additional investments in the finance, fluorine chemical engineering and mining industries. Annual revenue for 2015 is expected to exceed approximately $4.7 billion.

Kisum Wong, the founder and Chairman of the Thai Hot Group, explained the rationale for Thai Hot’s investment in Alliance. “We made our strategic investment in Alliance primarily because of our assessment of the strong growth opportunities present in the U.S. healthcare market. Based on our due diligence, we believe that Alliance, with its 1,000 hospital customer relationships, is uniquely positioned to capitalize on this growth. We have a strong conviction that Tom and his team will execute upon their strategic plan and drive value for all shareholders.”

Mr. Tomlinson added, “Alliance has a bright future with compelling growth opportunities in its core markets. We welcome the new board members from Thai Hot and look forward to continuing to work closely with the Board to determine the best ways to maximize long-term shareholder value, which may include capitalizing on opportunities in China and other global markets.”

Anticipated New Board Members

Kisum Wong is the founder and Chairman of the Thai Hot Group, a company he founded approximately 19 years ago. He has also served as Chairman and general manager of Thai Hot since March 2013 and is expected to be appointed Non-Executive Chairman of the Board for Alliance. The current Chairman of the Board, Larry C. Buckelew, will continue to serve on the Board of Directors. Mr. Wong has been a representative of the 12th National Committee of the Chinese People’s Political Consultative Conference since February 2013, and is also the Vice President of the Fujian Chamber of Commerce, and Director of Fujian Haixia Bank. Mr. Wong has a BA in engineering from Fuzhou University.

Yong Ge and Dr. Tao Zhang will also be appointed to the Board together with Chairman Wong and will replace Michael P. Harmon, Curtis S. Lane and Aaron A. Bendikson. Mr. Ge has been the deputy general manager of Thai Hot Group since February 2014. Previously, Mr. Ge was the deputy general manager of Dalian Zhonggeng Real Estate Development Co. Ltd. from 2008 to 2010 and assistant to the president of Fujian Junshi Energy Co. Ltd. from 2010 to 2012.

Dr. Zhang founded United Pacific Healthcare in August 2014 in order to capitalize on the dynamic growth opportunities in the Chinese healthcare marketplace. Previously, Dr. Zhang worked directly under Dr. Thomas Frist, Jr., the co-founder of HCA, for six years, three years of which Dr. Zhang was in the U.S. on a part time basis. Dr. Zhang spent the remaining three years in China as the full-time chairman and CEO of CHC, Dr. Frist’s China venture in the healthcare delivery sector. Dr. Zhang earned his MD degree in China and underwent cardiac surgery training for three years before he joined CITIC Pacific in 2001. Dr. Zhang worked at CITIC Pacific for four years in the healthcare division and invested and built two of the top ten private hospitals in China. Dr. Zhang also holds an MBA and a Master’s Degree in Health Sector Management from Duke University.

About Alliance HealthCare Services

Alliance HealthCare Services (NASDAQ: AIQ) is a leading national provider of outsourced healthcare services with a 30+ year track record of award-winning patient care/satisfaction and service line expertise. Providing diagnostic radiology services through its Radiology Division (Alliance HealthCare Radiology), interventional radiology & pain management services through its Interventional Services Division (Alliance HealthCare Interventional Partners) and radiation oncology services through its Oncology Division (Alliance HealthCare Oncology), 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. As of June 30, 2015, Alliance operated 522 diagnostic imaging and radiation therapy systems, including 117 fixed-site imaging centers across the country; and 32 radiation therapy centers and stereotactic radiosurgery (SRS) facilities. With a strategy of partnering with hospitals, health systems and physician practices, Alliance provides quality clinical services for over 1,000 hospitals and other healthcare partners in 44 states where approximately 1,800 Alliance Team Members are committed to providing exceptional patient care and exceeding customer expectations. For more information, visit www.alliancehealthcareservice-us.com.

About Fujian Thai Hot Investment

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 fluorine. They were founded in 1996 and have assets exceeding $10 billion as of December 31, 2014 which includes subsidiary investments traded on the Shenzhen Stock Exchange and Shanghai Stock Exchange. In early 2015, Thai Hot made healthcare and medical services one of its top priorities, including radiology and oncology, and it intends to expand healthcare services in mainland China to an underserved healthcare marketplace.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, without limitation, the director appointments to the Company’s board of directors, the expected closing of the transaction and the Company’s competitive position, long-term value proposition, growth and international market and other opportunities. Forward-looking statements can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. For a complete list of risks and uncertainties, please refer to the Risk Factor section of the Company’s Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission.