Record Point is an independent corporate advisory firm specialising in domestic and international advisory services for public and private companies.

Record Point advises GenesisCare on its acquisition of 21st Century Oncology

Record Point acts as lead advisor to GenesisCare on its acquisition of leading US radiation oncology and integrated cancer treatment provider, 21st Century Oncology.

The acquisition marks GenesisCare’s entry into the US market, establishing a truly global platform with a strong foothold in the world’s largest market for radiation oncology. This follows successful entries into the UK and Spain extending on the Australian business where the company was founded.

With a proven model globally, GenesisCare will be supporting the team at 21st Century Oncology and combining its innovative operating practices to ensure patients have increased access to high quality cancer treatments, expanding on its purpose to design care experiences that deliver the best possible life outcomes.

21st Century Oncology is the largest independent oncology provider in the US, headquartered in Florida. It operates 124 radiation oncology treatment centres in the US and 170 clinical sites across the country. Together, the combined network will operate almost 200 radiation oncology treatment centres.

Following the acquisition, GenesisCare plans to invest an additional US$300m in the US over the next three years. The investment is targeted towards an expansion of treatment options for patients, including installation of state-of-the-art equipment and an expanded clinical footprint.

The transaction follows a major expansion capital raise undertaken in 2018, where Record Point advised GenesisCare on almost A$1bn in debt funding and an equity investment from KKR.

The sale of 21st Century Oncology is subject to customary regulatory reviews, and is expected to close through the early months of 2020.