• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

OnCURE Medical Corp. Expands Its Central Florida Network By Adding a Radiation Cancer Center in Avon Park, Fla.

Posted on: Tuesday, 7 March 2006, 21:02 CST

OnCURE Medical Corp. ("OnCURE"), a leading provider of outpatient radiation therapy services, today announced the acquisition of a radiation cancer therapy center in Avon Park, Fla. from Radiation Oncology Associates P.L.

"Our mission by adding this center is to provide a continuity of services through our ongoing relationships with Drs. Bhutiani and Yoon, who will continue to provide quality care to their patients, while associating with OnCURE for expert support services," said Richard Zehner, OnCURE's chief executive officer.

Dr. Shyam Paryani, chairman of the OnCURE board of directors, stated, "With the addition of this center to our existing central Florida network which includes cancer centers in Sebring and Bradenton, Florida, OnCURE is furthering its commitment to expand our regional networks of radiation centers in association with quality doctors."

About OnCURE

OnCURE, with headquarters in Newport Beach, owns, operates and manages 29 radiation centers, and other mobile HDR & PET CT units, all located in California and Florida. The company believes they are one of the largest operators of freestanding radiation centers in the country. OnCURE's centers provide treatment areas and equipment for radiation therapy and diagnostic radiology, including IMRT, CT, and PET. OnCURE does not own physician practices nor does it maintain any control over the provision of medical services at its centers. OnCURE does, however, provide capital, technology, and management expertise to its affiliated physician groups, including clinical management, billing and collection, data warehousing, accounting, compliance and other administrative services. OnCURE is associated with a Medical Advisory Board comprised of all of the radiation oncologists who provide medical services to the OnCURE facilities. Currently there are approximately 50 physicians on the Medical Advisory Board, and in addition, OnCURE has approximately 350 employees. For more information on OnCURE, please visit the company's Web site at www.OnCURE.com.

OnCURE is a privately held company whose shareholders include Crossbow Ventures, Halpern Denny & Co. and MedEquity Capital LLC.

About Crossbow Ventures: (www.crossbowventures.com)

Crossbow Ventures is a private equity investment firm founded by a former executive of Merrill Lynch Capital, and is based in Palm Beach, Fla. The firm has more than $170 million committed capital concentrated on lead investments located in the Southeast U.S. in Telecommunications, Information Technology, Life Sciences/Healthcare, and Financial Services sectors.

About Halpern, Denny & Co.: (www.halperndenny.com)

Halpern, Denny & Co. is a private equity investment firm founded by former executives of Bain & Company and Bain Capital. Based in Boston, the firm has more than $600 million committed capital to back strong management teams focused on driving their companies to leadership positions in their respective industries. Areas of investment focus include healthcare, media, distribution and consumer.

About MedEquity Capital LLC: (www.medequity.com)

MedEquity Capital LLC is a Wellesley, Mass.-based private equity firm that provides expansion capital to emerging healthcare-related companies.

Forward-Looking Statements

Statements in this Press Release that are not historical facts constitute "forward-looking statements." Any statements contained herein which are not historical facts or which contain the words "anticipate,""believe,""continue,""estimate,""expect,""intend,""may,""should," and similar expressions are intended to identify forward-looking statements. Such statements reflect the current view of OnCURE with respect to future events and are subject to certain risks, uncertainties and assumptions, including, but not limited to, the risk that OnCURE may not be able to implement its growth strategy in the intended manner, including the ability to identify, finance, complete and integrate acquisitions and joint venture opportunities, risks regarding currently unforeseen competitive pressures and risks affecting OnCURE's industry, such as increased regulatory compliance and changes in regulatory requirements, changes in payor reimbursement levels and the development of additional alternative treatment modalities and technological changes. Should one or more of those risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein.

Source: Business Wire

More News in this Category