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Akumin Provides Business Update, Announces CFO Replacement

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plantation florida, August 12, 2022 /PRNewswire/ – Akumin Inc. (NASDAQ: AKU) (TSX: AKU) (“Acumin” or “Company“) provided an update on its business and announced the termination of its chief financial officer. William Larkin and appointed David Kretschmer Effective today as Interim Chief Financial Officer.

The company has implemented a transformational program with initiatives focused on operations, growth and capital. These initiatives are intended to support the company’s goals around patient access and experience, customer and partner engagement, financial sustainability, and employee well-being. We have the support of globally recognized transformation experts to help us implement our programs. As part of this transformation, the company announced: (a) terminate the employment of the Chief Financial Officer; William Larkinand the appointment of David Kretschmer, an experienced Transformation Finance Executive who has successfully completed other business transformations in the healthcare industry, has joined today as Interim Chief Financial Officer. (b) commitments made by our subsidiaries to third-party buyers of certain accounts receivable; $30 million.

riad ginAkumin’s Chairman and Chief Executive Officer commented: As the new Interim Chief Financial Officer. We are excited to have his expertise complement our team as we successfully execute our transformation program. Representing Akumin’s Board of Directors I wish him all the best in his future endeavors and his contribution to the company. ”

Zine continues: $30 million Decrease in days outstanding on accounts receivable. The pro forma cash position at the end of Q2 2022 is approximately $69 millionIn addition, future sales of similar receivables in the ordinary course of business are not expected to materially affect our earnings. “

Prior to joining the Company, he worked for Surgery Partners, Inc. (NASDAQ: SGRY). $2.5 billion As Interim CFO and Executive Vice President of Strategy and Transformation, and previously as Senior Vice President, Treasurer and CIO of Anthem, Inc., at Elevance Health, Inc. (Nasdaq: ELV), a health insurance company Changed company name.Above $130 billion He has been a key team member in the successful business transformation of each of these companies.

About Acumin

Akumin is a national leader in comprehensive ambulatory radiology and oncology solutions and is the partner of choice for US hospitals, healthcare systems and physician groups. Akumin provides fixed-site ambulatory radiology and oncology services through a network of 234 owned and/or operated centers. It also provides outpatient radiology and oncology solutions to approximately 1,000 hospitals and health systems in 48 states. Akumin combines clinical and operational expertise with the latest advances in technology and information systems to deliver patient-centric innovation, service standardization, and exceptional healthcare value to patients and partners. For more information, see:

Forward-Looking Information

Certain information in this press release constitutes forward-looking information or forward-looking statements. In some cases, but not necessarily all, such statements or information may contain forward-looking terms such as “plans”, “targets”, “expects” or “does not expect”, “anticipated”, etc. can be identified using , “opportunity exists”, “positioned”, “estimate”, “intend”, “assume”, “predict”, “do not predict”, “believe” or such A variation of a word or phrase, or a particular action, event or outcome, “could,” “could,” “could,” “could,” ‘, ‘could’, ‘could’, ‘could’, ‘could’ or ‘achieved’. In addition, statements that refer to expectations, forecasts or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates believed to be reasonable by Akumin as of the date of this press release, but is subject to known and unknown risks, Subject to uncertainties, assumptions and other factors. actual results, level of activity, performance or achievements may differ materially from those expressed or implied by such forward-looking information; These include, but are not limited to, the factors discussed in more detail in the “Risk Factors” section of our quarterly report. Form 10-Q for expired period June 30, 2022filed with the SEC August 9will be published in 2022. www.sec.govThese factors are not intended to represent an exhaustive list of factors that may affect Akumin. However, these factors should be carefully considered. There is no assurance that such estimates or assumptions will prove correct. The forward-looking statements contained in this press release are made as of the date of this press release and Akumin does not make any statements, including forward-looking information or the factors or assumptions underlying them. We expressly disclaim any obligation to update or modify. new information, future events or other results, except as required by law;

SOURCE Akumin Co., Ltd.