City Of Hope To Buy Cancer Treatment Centers Of America For $390 Million In National Expansion Move

In a deal that mixes two huge suppliers of most cancers therapy, Metropolis of Hope is buying Most cancers Remedy Facilities of America for $390 million to increase nationally.

Most cancers Remedy Facilities of America, a privately held chain of hospitals, outpatient facilities based by Richard J. Stephenson in northern Illinois and recognized for its nationwide tv advertising and marketing and associated promotional methods extraordinary many years in the past for oncology providers, combines with Metropolis of Hope, a nonprofit Nationwide Most cancers Institute-designated complete most cancers analysis and therapy group seeking to lengthen its model nationwide.

Metropolis of Hope mentioned the acquisition expands “the portfolio, attain and influence of Metropolis of Hope’s modern most cancers providers and capabilities, together with analysis and growth, into extra communities throughout the nation.”  

To make certain, Most cancers Remedy Facilities of America has hospitals within the Chicago, Phoenix and Atlanta markets, however attracts sufferers to those inpatient services and its outpatient facilities from throughout the nation. Stephenson typically spoke of the “Mom customary” when it got here to caring for most cancers sufferers, pushing into the business of treatment cancer in 1988 following his mom’s loss of life from most cancers.

Given Most cancers Remedy Facilities attain, Metropolis of Hope mentioned it sees a chance to now attain extra sufferers. The mixed group will serve about 115,000 sufferers yearly, the most cancers suppliers mentioned.

“This can be a defining second within the struggle towards most cancers and a strong alternative to achieve extra most cancers sufferers with the main remedies, care and superior analysis they critically want,” mentioned Robert Stone, president and CEO of Metropolis of Hope and the Helen and Morgan Chu Chief Govt Officer Distinguished Chair. “CTCA has a robust dedication to patient-centric most cancers care, and combining its community and providers with Metropolis of Hope’s scientific experience, scientific trials and affected person care strengths will considerably improve the quantity of people that can entry the most recent lifesaving remedies.”