GenesisCare buys Cancer Partners UK from Apposite Capital

Apposite Capital has sold Cancer Partners UK to GenesisCare. No financial terms were disclosed. Rothschild provided financial advice to Apposite on the transaction. Cancer Partners UK is a network of cancer treatment centers in the UK.

PRESS RELEASE

London, UK – 1 July 2015. Apposite Capital, the private equity firm specialising in healthcare, today announces that GenesisCare, Australia’s largest provider of radiotherapy services, has acquired its portfolio company Cancer Partners UK. Co- founded by Apposite Capital, Cancer Partners UK is the first and largest network of specialist outpatient cancer centres in the UK. Financial details were not disclosed.

Apposite helped set up Cancer Partners UK and has supported the company as it has evolved, building up the management team and financing the successful roll-out of eight state-of-the-art cancer centres across the UK with further sites in construction or planning. Cancer Partners UK was established to deliver high quality services following international clinical best practices. In particular, the company’s strategy has consistently been focussed on the latest radiotherapy technologies and techniques that provide the most precise treatment available. The aim of this approach has been to deliver treatment with fewer side-effects and improved outcomes for patients.

David Porter, Managing Partner at Apposite Capital, who served on the Board of the company, commented: “Cancer Partners UK has been a successful and rewarding investment for Apposite Capital. It illustrates our ability to help to tackle some of the most challenging healthcare problems in the UK by introducing innovative models of care; for example, Cancer Partners UK was the first provider of radiotherapy outside of a hospital setting in the UK.”

Steve Adkin, Partner, Apposite Capital, who also served on the Board of Cancer Partners UK, added: “Thousands of cancer patients and their families have already benefited from the hard work and commitment of Cancer Partners UK’s team of more than 160 people. The team can be very proud of all they have achieved. GenesisCare’s commitment to providing the best possible care makes it an ideal partner to build on that success. We look forward with confidence to following the progress of the company as part of the GenesisCare group.”

Steve Bird, CEO of Cancer Partners UK said: “Apposite Capital has been a valuable partner since our inception. Their know-how around healthcare practice and strategic insights, as well as concrete on the ground involvement has been instrumental in building the scale and scope of our business. Having established together the company as a leading independent cancer services provider, we are now looking forward to working with GenesisCare to continue delivering the best possible care to cancer patients and supporting the expansion of our business.”

Rothschild acted as financial advisers to Apposite on the transaction, with Berwin Leighton Paisner acting as legal advisers to the shareholders of Cancer Partners UK.

About Apposite Capital
www.appositecapital.com

Apposite Capital is an independent investment firm focused exclusively on healthcare.

The firm operates at the small end of the private equity market, providing both capital and expertise to those businesses offering ‘disruptive’ models that aim to improve or reduce the cost of care provision and which have the potential of becoming market leaders.

Apposite has an in-depth sector knowledge covering key aspects of the healthcare industry internationally coupled with local insights, an exceptional network and an entrepreneurial mindset which it applies to drive the growth of its portfolio companies.

Apposite was created in 2006 and is headquartered in London, UK.

About Cancer Partners UK (www.cancerpartnersuk.org)
Cancer Partners UK provides the highest levels of patient-focused care across a network of eight purpose-built cancer treatment centres.
Each centre has been individually designed to meet the needs of the local area but each aspires to provide the same high standard of patient services. Daily image guided radiotherapy and intensity modulated radiotherapy are at the core of each centre, along with volumetric arc therapy and, other specialist treatment techniques including deep inspiration breath-hold to help minimise any side effects for patients with certain types of cancers.

The radiotherapy centres are located in partnership with leading private hospitals, and are in Birmingham, Elstree, Guildford, Nottingham, Portsmouth and Southampton.

Two comprehensive outpatient diagnostic treatment centres – located in Milton Keynes (Linford Wood Medical Centre) and Oxford (Sandford Medical Centre) – additionally provide outpatient services – diagnostic tests and consultations and chemotherapy services. A third treatment centre in King’s Hill, Kent (West Malling Diagnostic and Treatment Centre) is due to open in November 2015. A joint venture with Penny Brohn Cancer Care

(http://www.pennybrohncancercare.org/) means that patients are provided with access to holistic care through ‘a Living Well’ programme to further compliment their service experience and improve their care needs.

In 2013 Cancer Partners UK was named as one of The Sunday Times Fast Track 100 Companies and was named as one of the London Stock Exchange’s 1,000 Companies to Inspire Britain in its 2015 publication. The company employs over 160 staff with a referral network of over 100 consultant oncologists.

About GenesisCare (www. genesiscare.com.au)
GenesisCare provides high quality specialist care to patients with cancer and cardiovascular disease, the two largest disease burdens globally. The organisation exists to improve quality and access for patients and communities in need. The Group is the largest provider of radiotherapy across Australia, operating 25 cancer centres in major metropolitan and also regional settings (including in tertiary teaching public hospitals). More than 80 locations provide cardiology and sleep services. The Group employs more than 1500 highly trained health professionals and support staff including more than 150 physicians and leads or participates in more than 110 clinical trials.

Cancer care is provided for all tumour groups with the latest techniques including intensity modulated radiotherapy, volumetric arc therapy, stereotactic radiotherapy and radiosurgery, low dose rate and high dose rate brachytherapy.

The GenesisCare medical team comprises some of the world’s most experienced specialists with many dedicating time as consultants in public hospitals or participating in research and teaching. GenesisCare is adopting internationally proven medical technologies integrated with electronic healthcare records to improve patient clinical outcomes and their service experience.