RMB Ventures and Bopa Moruo Private Equity, alongside management, has acquired a majority stake in Icon Oncology Holdings, a provider of cancer treatment in South Africa, for an undisclosed sum.
The acquisition was approved yesterday by the Competition Commission.
Icon has a national footprint of 26 radiotherapy facilities incorporating 30 linear accelerators (Linacs). The business employs more than 300 clinical professionals who deliver care to about 30 000 patients annually.
In addition to 59 accredited chemotherapy units, Icon manages three compounding pharmacies and a licensed pharmaceutical wholesaler. The group also owns 16 specialised properties incorporating the bunkers from which it operates.
Icon Managed Care has a contracted network representing 80% of all oncologists in private practice.
Icon interim CEO Anthony Pedersen said the firm aimed to improve the quality of treatment that cancer patients receive and “we are excited to be working with RMB Ventures and Bopa Moruo as we enter the next phase of business expansion and diversification”.
Nthime Khoele, the co-managing partner at Bopa Moruo, said: “We are focused on investing transformational capital that not only generates investment returns but also has a positive societal impact. Our partnership with Icon Oncology clearly demonstrates our strategy.”
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