Published on June 28, 2012 at 2:40 AM
GenesisCare and Kohlberg Kravis Roberts & Co. L.P. (together with its
affiliates, "KKR") announced that agreements have been entered into
under which KKR will acquire up to a 63% ownership stake in GenesisCare,
subject to shareholder acceptance.
GenesisCare operates an Australia-wide network of comprehensive cancer
and cardiovascular care centres. The company is a leader in cancer and
cardiovascular service provision and is committed to improving clinical
outcomes and access for patients.
Comprising a team of doctors, healthcare specialists and management
professionals, GenesisCare embraces a collegiate and innovative spirit
that encourages advancements in patient care. The organization has more
than 1,000 employees that have helped provide more than 350,000 patient
treatments across Australia in the past 12 months.
"KKR acknowledges the essential role played by GenesisCare in providing
the healthcare outcomes to patients in communities right around
Australia," Mr. Justin Reizes, Head of KKR Australia said.
"We look forward to supporting GenesisCare as it seeks to expand
services further into areas of unmet need."
Mr. Dan Collins, Managing Director of GenesisCare said KKR would bring
proven global resources and deep healthcare expertise needed to meet the
challenges confronting Australia's healthcare system.
"Our commitment to meet the needs of our patients continues, as does our
plans to innovate how care is delivered.
"Our talented doctors and supporting teams of medical professionals have
combined to build a great organization. We make a positive impact
wherever we have a presence. Together with KKR, GenesisCare can now
continue to lead care and access standards and improve the patient
experience," Mr. Collins said.