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Silver Oak-backed ION acquires cCARE

Integrated Oncology Network LLC, a portfolio company of Silver Oak Services Partners LLC, has acquired California Cancer Associates for Research & Excellence, a provider of comprehensive cancer treatment services.

Integrated Oncology Network LLC, a portfolio company of Silver Oak Services Partners LLC, has acquired California Cancer Associates for Research & Excellence, a provider of comprehensive cancer treatment services. No financial terms were disclosed.

PRESS RELEASE

NASHVILLE, April 22, 2022 – Integrated Oncology Network, LLC (“ION”), a portfolio company of Silver Oak Services Partners, LLC (“Silver Oak”), today announced the acquisition of California Cancer Associates for Research & Excellence (“cCARE”).

Founded in 1993, cCARE is a leading provider of comprehensive cancer treatment services with over 30 providers across 6 centers in the Fresno and San Diego, CA markets. cCARE provides an integrated cancer care offering including medical oncology, radiation oncology, diagnostic imaging, and other ancillary services. The combination of ION and cCARE creates one of the largest oncology providers in the U.S. with 57 centers across 14 states. Visit www.ccare.com.

Josh Johnson, CEO of ION, said “cCARE has established an outstanding reputation throughout Southern and Central California due to the strength and quality of its physician base and proven ability to deliver exceptional patient outcomes. We are thrilled to partner with the cCARE team and to build upon ION’s mission to deliver comprehensive, community-based care within the markets we serve.”

“Our team is excited to partner with ION, whose highly complementary offerings, vision, and culture, will facilitate a seamless integration,” said Dr. Jedidiah Monson, President of cCARE. “ION’s deep and highly experienced management team paired with Silver Oak’s additional capital and expertise will accelerate current and future growth initiatives across the combined platform.”

About ION: Integrated Oncology Network, LLC is a leading national provider of outpatient cancer services delivering community based, integrated care through its partnerships with specialty physician practices and hospitals. ION’s full-service cancer treatment offering comprises medical oncology, radiation oncology, urology, diagnostic imaging, surgery and other ancillary services. ION has over 100 providers throughout its 57 centers across 14 states. Visit www.ionetwork.com.

About Silver Oak Services Partners: Founded in 2005 and based in Evanston, IL, Silver Oak Services Partners is a lower-middle market private equity firm focused on partnering with exceptional management teams to build industry leading business, healthcare and consumer service companies. Silver Oak utilizes a proactive, research-led investment process to identify attractive services sectors and seek out the best potential management teams and investment opportunities. Silver Oak seeks to make control investments in leading service businesses with $15 to $150 million in revenue. The firm is currently investing out of its fourth fund, a $500 million investment vehicle. Visit: www.silveroaksp.com.