General Atlantic has invested in OneOncology, a combination of three practices. They include Tennessee Oncology, New York Cancer & Blood Specialists, and West Cancer Center. Financial terms weren’t announced. OneOncology, of Nashville, unites more than 225 oncology providers, over 60 care locations, and aims to treat nearly 158,000 cancer patients every year.
NASHVILLE, Tenn., Sept. 12, 2018 /PRNewswire/ —
• Founding practices Tennessee Oncology, New York Cancer & Blood Specialists, and West Cancer Center unite over 225 oncology providers, more than 60 care locations, and treat nearly 158,000 cancer patients every year.
• Flatiron Health oncology software powers the OneOncology technology platform.
• General Atlantic makes a significant capital investment.
Three leading oncology practices unite with partners in technology and finance to announce the launch of OneOncology, a patient-centric, physician-driven, and technology-powered company with a mission to improve the lives of everyone living with cancer.
An estimated 38 percent of Americans will be diagnosed with cancer in their lifetimes. Fortunately, with breakthroughs in diagnostic testing, targeted and immunotherapies, and surgical procedures, cancer is being detected earlier and survivorship is increasing. More than half of those diagnosed with cancer in the U.S. are being treated in a community-based setting, providing high-quality care closer to patients’ homes, at costs up to 60 percent less than in acute care hospitals.
Despite their critical role, community oncology practices face enormous challenges, including increased pressure from hospital consolidation, limited resources to invest in innovation, and continued shifts to alternative payment models.
OneOncology empowers community oncology practices by supporting the entire continuum of care, including prevention and diagnosis, research and treatment, long-term survivorship, and palliative and hospice care. Through this comprehensive approach, OneOncology aims to achieve improved patient experience and outcomes while benefiting their providers and payers through better aligned payment models.
“With the launch of OneOncology, we hope to transform the future of cancer care,” said Tracy Bahl, OneOncology’s President & Chief Executive Officer. The 20-year healthcare industry veteran sees a need in the marketplace for a better cancer care model. “Cancer is increasingly being treated like a chronic condition rather than a terminal diagnosis. Working together with world-class oncologists, we will drive the change that community cancer needs through continual learning, creative and smart evolution, and a collective desire to positively impact the lives of every person touched by cancer.”
OneOncology’s founding practices are recognized as three of the nation’s leading community-based cancer care centers. Dr. Jeff Patton, CEO of Tennessee Oncology, Dr. Jeff Vacirca, CEO of New York Cancer & Blood Specialists, and Dr. Lee Schwartzberg, Executive Director of West Cancer Center, all believe that this partnership will enable the nation’s best oncologists to learn from unique challenges, drive meaningful innovation, and leverage the benefits for patients.
Flatiron Health, with technology currently embedded in 275 oncology practices nationwide, will power the OneOncology technology and data platform. OneOncology will leverage Flatiron’s suite of services to provide access to key clinical and operational data and the latest research via a connected, national, cloud-based network.
General Atlantic, a leading global growth equity firm with a history of launching innovative companies, has made a significant investment in the company to support its current growth plans and ensure it will be at the forefront of the transformation to a value-based cancer care system.
In addition to Mr. Bahl and the founding physicians, the OneOncology leadership team includes: David Chernow, an innovator in community-based cancer care for over 25 years and co-founder of American Oncology Resources, the predecessor to US Oncology, who will serve as Chairman of the Board; General Counsel Phil Watts, former General Counsel and Executive Committee member at US Oncology; and Chief Development and Marketing Officer Robin Shah, former Vice President of Provider Marketing and Strategy at Flatiron Health, who will lead the team’s growth strategy including business development and technology. Each of these individuals has been involved in the inspiration and creation of OneOncology.
For OneOncology, cancer is personal, and the mission is critical. Mr. Bahl added, “We believe our vision, our model, and our team are uniquely positioned to dramatically improve cancer care delivery at a time when patients need it most.”
Media Contact: Ali Leventhal | [email protected]
About OneOncology OneOncology, a partnership of independent community oncology practices and finance and technology experts, is positioning community oncologists to drive the future of cancer care through a patient-centric, physician-driven, and technology-powered model to help improve the lives of everyone living with cancer. Visit www.oneoncology.com or follow us on Twitter @oneoncology and LinkedIn.
About Flatiron Health Flatiron Health is a healthcare technology and services company focused on accelerating cancer research and improving patient care. Flatiron Health’s platform enables cancer researchers and care providers to learn from the experience of every patient. Currently, Flatiron Health partners with over 275 community cancer clinics, seven major academic research centers and the top 15 therapeutic oncology companies. For more information, please visit www.flatiron.com or follow us @FlatironHealth.
About General Atlantic General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 115 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. www.generalatlantic.com.