Australian cancer and cardiac care company GenesisCare has acquired U.S.-based radiation therapy and integrated cancer treatment provider 21st Century Oncology.
The deal marks another step in the international expansion efforts of GenesisCare. The sale is expected to close by mid-2020.
The acquisition will combine 21st Century Oncology's 124 radiation oncology treatment centers and 170 clinical offices with GenesisCare's network. In combination, the company will have a global network of almost 200 radiation oncology treatment centers and 170 clinical offices.
GenesisCare plans to invest an additional $300 million in the U.S. over the next three years. The funds will be used to expand treatment options for patients by installing state-of-the-art equipment and expanding its clinical footprint. The leadership of 21st Century Oncology will remain in the U.S.
The companies hope that 21st Century Oncology's specialists from the U.S. and GenesisCare's network across Australia and Europe will better enable global best practices in treatment techniques and evidenced-based care.
