RMB Ventures and Bopa Moruo acquire majority stake in Icon Oncology
Icon Oncology is a provider of cancer treatment in South Africa.
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RMB Ventures and Bopa Moruo Private Equity, alongside management, have acquired a majority stake in Icon Oncology Holdings, which is a provider of cancer treatment in South Africa. Since inception, Icon and its subsidiaries Icon Radiotherapy, Icon Chemotherapy and Icon Managed Care have pioneered the move to value-based care in cancer treatment in South Africa.
Icon has a national footprint of 26 radiotherapy facilities incorporating 30 state-of-the-art linear accelerators. The business employs more than 300 clinical professionals who deliver care to approximately 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.
Anthony Pedersen, interim CEO of Icon said, “It is a privilege to be part of an organisation that makes such a significant impact on the lives of thousands of patients and society in general. I am incredibly proud of what Icon has achieved. Looking forward, we aim to increasingly improve the quality of treatment that cancer patients receive across the entire care continuum. We will continue to work closely with clinicians and funders to drive sustainable models both in South Africa and elsewhere, as we strive to improve access to care for more patients. We are excited to be working with RMB Ventures and Bopa Moruo as we enter the next phase of business expansion and diversification.”
Sherwin Jagarnath, senior transactor at RMB Ventures adds, “RMB Ventures and Bopa Moruo are excited to partner with Icon Oncology, a pioneering leader in cancer care. This partnership underscores our commitment to empowering and partnering with leading businesses and to further support innovative healthcare solutions.”
Nthime Khoele, co-managing partner at Bopa Moruo says, “We are focused on transformational capital that not only generates returns but also has a positive societal impact. Our partnership with Icon Oncology certainly demonstrates that on both counts.”
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