On 21 October, a consortium consisting of China Resources Group and Macquarie Capital became the new majority shareholders of GenesisCare.
This is the fourth private equity investor that GenesisCare has had since it was formed. The consortium will work alongside doctors and management to support growth plans in Australia, the UK and Spain. Management and doctors will control the Board and in agreement with the consortium the company will remain Australian based with the same Executive Management Team and with the same strategy of providing high-quality care for patients.
GenesisCare in UK and Europe
Importantly, the new investor has endorsed plans to invest in the UK and in Europe. Following the acquisition of Cancer Partners UK in 2015, and the recent acquisitions of IMOncology and the Oncosur Group in Spain earlier this year, GenesisCare now operates ten oncology treatment centres in the UK, 17 oncology treatment centres in Spain and 27 centres in Australia. Across these 54 centres, the GenesisCare network is the largest private oncology provider in Australia, Spain and the UK providing care to almost 30,000 cancer patients each year.
To support this growth, earlier this year GenesisCare announced the formation of a multi-year strategic partnership Elekta, the Swedish medical equipment manufacturer. The partnership, initially over eight years, will include an investment of AUD$132 million (USD$100 million) in a suite of solutions across the Elekta portfolio such as Leksell Gamma Knife® Icon™ radiosurgery systems, Versa HD™ linear accelerators, brachytherapy systems, Mosaiq software.
Dan Collins, Managing Director, GenesisCare said:
“By investing in the latest technology we are providing our patients with access to more efficient and effective care. This will enable our physicians and staff to offer a smoother patient experience and improve patient outcomes. The suite of advanced technology solutions, global influence and commitment to innovation offered by Elekta will support us as we expand globally.”
John Allen, Executive Manager-International, GenesisCare explained:
“GenesisCare is delighted that our new investors are fully aligned with our ambitious plans for expansion across the UK and have committed the required investment to support our strategy to open new state of the art radiotherapy facilities, thereby ensuring our patients have access to the very latest technologies available.”
François Pointurier, Elekta’s Senior Vice President for Region EMEA, said:
“We are proud to continue to partner with GenesisCare as they expand across Europe. GenesisCare will receive the most advanced and recognised cancer treatment solutions on the market. We look forward to providing these platforms to support GenesisCare’s vision to provide accurate, efficient and the highest level quality treatment”.
Paul Gearing, Director of Business Development, GenesisCare - UK said:
“We are excited to have our new owner’s full support. Now our focus turns to the delivery of our growth strategy which starts today, by announcing our commitment to accelerate plans to begin building new facilities in Windsor, Brighton and Cambridge in early 2017.”