Oncology News Central (ONC)Amid Major Cancer Care Bankruptcy, Oncology Clinics Sold

Oncology Clinic Acquisitions: Navigating Bankruptcy Fallout and Ensuring Continuity in Cancer Care

In the aftermath of major cancer care bankruptcy, the acquisition of radiation oncology centers by OneOncology and Coastal Cancer Center signals a strategic shift in the landscape of cancer care delivery. Here’s a breakdown of the key points for physicians:

Key Points:

• OneOncology and Coastal Cancer Center have acquired two radiation oncology centers in South Carolina from GenesisCare as part of the latter’s Chapter 11 bankruptcy reorganization plan.
• GenesisCare will now operate as four distinct businesses globally, with its US business focusing solely on practices in Florida and North Carolina, offering comprehensive cancer care services.
• The sale of GenesisCare’s assets outside Florida and North Carolina, including the two radiation oncology centers, reflects a commitment to continuity for patients and clinicians, facilitated by dedicated operational teams for smooth transitions.
• Coastal Cancer Center’s expansion into radiation oncology through this acquisition underscores its strategic growth trajectory in South Carolina, where it has been operating since 1982.
• The transition of staff and clinicians from GenesisCare to Coastal Cancer Center necessitates diligent HR processes to ensure seamless integration and continued patient-focused care.
• The acquisition by OneOncology represents a strategic fit, aligning with their existing presence in the market and expanding their portfolio to include radiation oncology services.

“For OneOncology, these are two great business assets that are really the only radiation facilities that are open in that market. It’s a market we were already in, so sometimes things match up well.”
– Jeff Patton, MD, Chief Executive Officer of OneOncology

More on Business & Policy