GenesisCare’s first US clinics are offloaded in US bankruptcy
afr.comThe first US clinics of failed cancer service provider GenesisCare have been sold in its long-running Chapter 11 bankruptcy process.
According to court documents lodged in Bankruptcy Court for the Southern District of Texas in Houston, three of GenesisCare’s practices in Alabama have been acquired by Limitless Partners, LLC.
GenesisCare has 440 centres across the UK, Spain, United States and Australia, mostly specialising in radiation therapy. Nic Walker
Sixty per cent of the equity interests owned by GenesisCare USA, Inc via an entity called Ambergris LLC, were bought by City Hospital, Inc, also known as Berkeley Medical Centre located in West Virginia.
American Shared Hospital Services will buy its Southern New England Regional Cancer Centre in Rhode Island, and the Roger Williams Radiation Therapy site in Providence, Rhode Island, as well as certain payor contracts owned by GenesisCare.
GenesisCare USA was created after it purchased 21st Century Oncology in Florida in a $1.5 billion expansion into the US market in 2019, which would ultimately be its undoing.
One practice in Maryland has been offloaded to Greenbelt Radiation Oncology Centre, LLC. Three practices in Nevada and one practice in Washington were sold to Oncology Consultants, PLLC.
The sale price of these assets was not disclosed, and the auction process is still ongoing with the bulk of the clinics still not sold.
GenesisCare has around 300 radiation therapy centres and integrated medical offices offering urology and pulmonology care in the US.
The auction date has been moved several times and is now scheduled for Wednesday, November 15 in the US. But the date for a potential auction will move around as negotiations continue with various bidders.
The cancer
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