Business
Radiation therapy chain bought
NEWS IN BRIEF — Posted Sept. 11, 2006
A private equity firm seeking to solidify its focus in the health care sector has acquired the radiation therapy chain OnCure Medical Corp.
Genstar Capital announced the acquisition on Aug. 21, saying the move would strengthen its focus on health care investments. Terms of the deal were not disclosed. The San Francisco-based private equity firm said in a news release that radiation therapy is a $7-billion industry and that no single company operates more than 10% of the 2,000 radiation therapy centers in the United States.
Newport Beach, Calif.-based OnCure and its physician partners provide radiation therapy services in 33 freestanding treatment centers in California and Florida.
In other private-equity news, HCA Inc. said it has received a green light from the Federal Trade Commission to move forward with plans for its acquisition by a private equity group.
The Nashville, Tenn.-based hospital chain said on Aug. 21 that the FTC had granted early termination of the waiting period that was imposed on the deal. The leveraged buyout, expected to close in the next few months, remains subject to shareholder approval and other closing conditions.
HCA announced in July that it had agreed to be taken private by a consortium of investors for $21 billion, plus the assumption or repayment of nearly $12 billion in debt. The investors include Bain Capital, Kohlberg Kravis Roberts & Co., Merrill Lynch and the family of HCA co-founder Thomas F. Frist Jr., MD.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/09/11/bibf0911.htm.
