AVCJ

Australia's PE-owned GenesisCare to buy Cancer Partners UK

  • Holden Mann
  • LinkedIn  
  • Google plus  
  • Save this article  

Australian cancer and cardiovascular treatment provider GenesisCare, which is owned by KKR, has bought cancer center manager Cancer Partners UK from its private equity backer, Apposite Capital.

Financial details of the deal have not been disclosed, according to a release. Cancer Partners operates one of the UK's largest networks of specialist outpatient cancer centers. GenesisCare reportedly has committed to opening three additional centers in the UK after the acquisition.

Apposite, headquartered in London, is one of the co-founders of Cancer Partners. The company's first treatment center opened in 2009; it now manages eight locations and employs 160 staff.

GenesisCare manages 25 cancer centers across Australia, with an additional 80 locations focusing on cardiology and sleep disorders. Founded in 2005, it has been attempting to expand its operations to the UK and Europe in recent years.

KKR bought a 63% stake in GenesisCare in 2012 for about A$378 million ($287 million). The purchase by KKR allowed the company's previous PE backer, Advent Private Capital, to exit its 32% stake, which it bought in 2009 for A$48 million.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Australasia

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs