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FORT MYERS — 21st Century Oncology Holdings is continuing its expansion, acquiring a cancer-treatment clinic in Kennewick, Washington, for an undisclosed sum.
In a statement, 21st Century Oncology says it entered into a joint-venture agreement with Northwest Cancer Clinic in which it owns 80% of the entity. Northwest Cancer's physician leader, Sheila Rege, owns the remaining 20% of the firm. Financial terms were not disclosed.
Based in Fort Myers, 21st Century Oncology is the largest global physician-led provider of cancer care services. The company operates 181 treatment centers, including 145 centers located in 16 U.S. states. The company also operates 36 centers located in six countries in Latin America.
“This is a tremendous opportunity to both expand 21C's geographical reach into a new market, further broadening our ability to deliver best-in-class cancer care, and to align ourselves with key physicians who share our vision,” says Daniel Dosoretz, founder and CEO of 21st Century Oncology, in a statement. “Through the alliance in a radiation oncology facility located in Kennewick, Wash., 21C will enter into a new market in the Northwestern U.S., one of the fastest growing regions in the country, with future expansion opportunities via satellite offices in the region.”
In September, Canada's largest pension fund manager invested $325 million in 21st Century Oncology. The move by Canada Pension Plan Investment Board lowered the firm's debt load and provided capital for expansion. “We are pleased to have been able to utilize capital from one of our cornerstone investors, Canada Pension Plan Investment Board, for this partnership transaction,” says Dosoretz, in the statement.
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