GenesisCare Announces Investment by KKR
Published on Wednesday, 27 June 2012 03:43 Written by TradersHuddle StaffSYDNEY-( Business Wire )-
GenesisCare and Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") announced that agreements have been entered into under which KKR will acquire up to a 63% ownership stake in GenesisCare, subject to shareholder acceptance.
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 essential role played by GenesisCare in providing the healthcare outcomes to patients in communities right around Australia,” Mr. Justin Reizes, Head of KKR Australia said.
“We look forward to supporting GenesisCare as it seeks to expand services further into areas of unmet need.”
Mr. Dan Collins, Managing Director of GenesisCare said KKR would bring proven global resources and deep healthcare expertise needed to meet the challenges confronting Australia’s healthcare system.
“Our commitment to meet the needs of our patients continues, as does our plans to innovate how care is delivered.
“Our talented doctors and supporting teams of medical professionals have combined to build a great organization. We make a positive impact wherever we have a presence. Together with KKR, GenesisCare can now continue to lead care and access standards and improve the patient experience,” Mr. Collins said.
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.
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. Current health care investments in KKR's private equity portfolio include Accellent (2005), Alliance Boots (2007), Ambea AB (2010), Biomet (2007), Capsugel (2011), China Cord Blood (2012), HCA (2006) and Jazz Pharmaceuticals (2004). A complete list of KKR’s healthcare investments can be found on KKR.com.
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $62.3 billion in assets under management as of March 31, 2012. With offices around the world, including in Sydney, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with investors through its client relationships and capital markets platform. KKR is publicly traded on the New York Stock Exchange (NYSE: KKR). For additional information, please visit KKR's website at kkr.com.
Related Partner Headlines
- Teachers' to Acquire Majority Interest in Premier U.S. Dental Service Organization - Benzinga
- KKR Opens Singapore Office - Benzinga
- KKR & Hines Form Joint Venture to Develop Houston's Pinto Business Park - Benzinga
- Kohlberg Kravis Roberts & Co Acquiring Management Company Business of Sunrise Senior Living - Benzinga
- First Data Will Offer 6.75% Senior Secured Notes Due 2020 - Benzinga
- KKR Announces Prisma Capital Partners Acquisition on Track to Close in October - Benzinga
- KKR & Co LP Stock Downgraded (KKR) - TheStreet.com
- Stone Point and KKR to Form KKR - SPC Merchant Advisors; Committing $300M In Total - Benzinga
- Henry Kravis of KKR Interviews on CNBC - Benzinga
- KKR & Co LP Stock Upgraded (KKR) - TheStreet.com
Recent Trading Ideas
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,318.23 Trade time:4:34PM EDT Value change:▲138.38 (0.91%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,651.81 Trade time:4:34PM EDT Value change:▲12.77 (0.78%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,482.18 Trade time:5:15PM EDT Value change:▲30.05 (0.87%)
In The Wires
Systemax Comments on Federal Criminal Charges Against Carl Fiorentino
Veris Gold Corp. elects nine-member board
Intercept Pharmaceuticals Announces Pricing of Public Offering of Common Stock
Valeant Pharmaceuticals Prices Public Offering Of Common Shares
New Drug Delivery Partnering Terms and Agreements Market Study Report Available at MarketResearchReports.Biz
Ellington Residential Mortgage REIT Announces Dividend for the Second Quarter of 2013 and Provides Portfolio Update
72nd Common Stock Monthly Dividend Increase Declared By Realty Income
Realty Income Declares Preferred Stock Monthly Dividends