GenesisCare to Acquire 21st Century Oncology to Expand Access to High-Quality Cancer Care in U.S. Communities

VCBeat (WeChat ID: vcbeat) has learned that on December 13, 2019, local time, GenesisCare, an Australian cancer and cardiac care company, announced the acquisition of the U.S.-based cancer care provider 21st Century Oncology, which offers radiation therapy services and comprehensive cancer treatment. The sale of 21st Century Oncology is subject to customary regulatory review and is expected to be completed by mid-2020. Both parties stated that the combined expertise and influence of 21st Century Oncology’s specialists, together with GenesisCare’s customer network in Australia and Europe, are expected to better facilitate the global adoption of best practices in cancer treatment technologies and evidence-based care.

It is reported that GenesisCare plans to invest an additional $300 million in the United States over the next three years. This substantial investment aims to expand patients’ treatment options, including the installation of state-of-the-art equipment and the expansion of clinical coverage. Upon completion of this acquisition, 21st Century Oncology will maintain its market leadership position in the U.S. The company’s existing customers will continue to receive high-quality care within their local communities.

Dan Collins, Founder and CEO of GenesisCare, stated, “Together, we can achieve far more than ever before. We are honored to bring together 21st Century Oncology’s leading network of integrated cancer care providers with GenesisCare’s experienced clinical experts. In sum, our goal is to expand patient access to high-quality cancer care across the United States.”

It is worth noting that GenesisCare traces its origins to a clinic in Brisbane, Australia. Founded by Dan Collins in 2004, who also served as its Global CEO, GenesisCare has grown over the past 15 years to become the largest cancer care provider in Australia and Europe. The organization has demonstrated outstanding performance in improving patient satisfaction and reducing wait times. Meanwhile, GenesisCare is committed to making advanced treatment technologies more accessible and affordable for patients in the markets it serves.

As part of the acquisition, 21st Century Oncology’s 124 radiation oncology treatment centers and 170 clinical offices (which will provide comprehensive cancer care services) will join GenesisCare’s partner network. It can be said that, following the completion of the acquisition, the collaboration between the two parties will help form a global network comprising nearly 200 radiation oncology treatment centers and 170 clinical offices.

(Compiled by Ning Chen)