GenesisCare shareholders have voted unanimously in favour of affiliates
of Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates,
"KKR") entering into an agreement whereby KKR will own a 49.6 per cent
GenesisCare operates an Australia-wide network of comprehensive cancer
and cardiovascular care centres. The company is a leader in cancer and
cardiovascular service provision and is committed to improving clinical
outcomes and access for patients.
Comprising a team of doctors, healthcare specialists and management
professionals, GenesisCare embraces a collegiate and innovative spirit
that encourages advancements in patient care. The organization has more
than 1,000 employees that have helped provide more than 350,000 patient
treatments across Australia in the past 12 months.
"KKR acknowledges the unanimous support of the GenesisCare shareholders
in voting to approve the agreement, and looks forward to partnering with
GenesisCare on their vital mission" said Mr. Justin Reizes, Member of
KKR and Head of KKR Australia.
Mr. Dan Collins, Managing Director of GenesisCare, said, "KKR has a long
history of investing in health care. Since 1995, the firm has invested
more than $9 billion of equity capital in health care companies. They
will bring proven global resources and the deep healthcare expertise
needed to meet the challenges confronting Australia's healthcare system."
"KKR's support, and the overwhelming support of our shareholders who are
also doctors and staff, is a terrific endorsement of the GenesisCare
vision and strategy. We can continue to innovate and improve how care is
delivered," Mr. Collins added.
GenesisCare provides high quality specialist care to patients with
cancer and cardiovascular disease, the two largest disease burdens in
Australia. More than 70 clinics and facilities are located across
metropolitan and regional Australia.
The GenesisCare medical team comprises some of Australia's most
experienced specialists with many dedicating time as consultants in
public hospitals or participating in research and teaching. GenesisCare
is adopting internationally proven medical technologies integrated with
electronic healthcare records to improve patient clinical outcomes and
their service experience.
Mr. Dan Collins, +61 2 8236 3300