FORT MYERS — Radiation Therapy Services Holdings acquired rival OnCure Holdings for $125 million, boosting the company's treatment centers to a total of 165 locations in the U.S. and Latin America.
Under the terms of the deal, Radiation Therapy Services will pay $42.5 million in cash and $82.5 million in assumed debt for OnCure, which includes 33 treatment centers and 11 physician groups.
OnCure Holding, based in Englewood, Colo., filed for Chapter 11 bankruptcy protection in June because of declining insurance reimbursements, according to a Dow Jones news report. The bankruptcy court recently approved the sale of the company's assets to Radiation Therapy Services earlier this month, concluding the bankruptcy case.
“The acquisition of OnCure is a transformative event for RTS, and is the largest acquisition in our history,” says Daniel Dosoretz, president and CEO of Radiation Therapy Services, in a statement. “OnCure provides a substantial increase in scale, physician resources and enhanced presence in existing markets for RTS, solidifying our existing position as the largest global physician-led provider of integrated cancer care services.”
Including the OnCure acquisition, Fort Myers-based Radiation Therapy Services now operates 132 treatment centers in 16 U.S. states and 33 in six countries in Latin America.