EQT Infrastructure V has agreed to acquire Integrated Clinical Oncology Network, Australia’s largest integrated cancer-care provider, from a consortium consisting of Goldman Sachs Asset Management, QIC Private Capital Pty Ltd and Pagoda Investment Advisors.
Following the transaction, current shareholder Goldman Sachs Asset Management will retain a minority stake in the company, with Icon’s management and doctors also re-investing in Icon Group.
As Australia’s largest vertically integrated cancer-care operator, Icon Group operates 31 Radiation and Medical Oncology clinics in the country and New Zealand, delivering more than 260,000 treatments per year. In recent years, the company also has expanded into Asia, with 14 clinics across Singapore, Hong Kong, and China.
EQT has made more than 40 investments in the healthcare sector over the past 20 years, making some 20 investments during the past five years. Icon represents EQT’s fourth investment in radiology
