EQT Buys Australian Cancer-Care Provider Integrated Clinical Oncology Network

By Dominic Chopping

STOCKHOLM--Swedish private-equity firm EQT AB said Friday it has agreed to acquire Australian cancer care provider Integrated Clinical Oncology Network Pty., or Icon Group, from a consortium including Goldman Sachs Asset Management, QIC Private Capital Pty. and Pagoda Investment Advisors.

Financial details weren't disclosed but Goldman Sachs Asset Management will remain a minority shareholder as part of the deal while Icon's management and doctors will also re-invest, it said.

Icon Group offers radiation oncology, medical oncology, compounding and pharmacy services through a network of facilities across Australia, New Zealand, Singapore, Hong Kong and Mainland China.

It currently operates 31 radiation and medical oncology clinics in Australia and New Zealand, delivering more than 260,000 treatments per year across the two countries, operates a private cancer clinical trials program, produces more than a million cancer drug infusions a year and operates a network of 51 hospital pharmacies, it said.

Over the last few years, the company has also expanded into Asia with 14 clinics across Singapore, Hong Kong, and mainland China, EQT added.

With this transaction, EQT Infrastructure V is expected to be 60%-65% invested, subject to approval.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

11-19-21 0211ET