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GenesisCare Announces Investment by KKR

June 27, 2012

SYDNEY–(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.

ABOUT GENESISCARE

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.

ABOUT KKR

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 billionin 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.

 

KEY MEDIA CONTACTS:
Nigel Kassulke (for GenesisCare)
Cannings
Tel +61 2 8284 9990
Mobile +61 407 904 874
nkassulke@cannings.net.au
or
Ian Smith
Partner – Bespoke Approach (for KKR)
Tel +61 8 8419 2889
Mobile +61 418 814611
ismith@bespokeapproach.com
or
KKR (New York)
Kristi Huller
Tel: + 1 212 230 9722
kristi.huller@kkr.com

 

Source: CANNINGS CORPORATE COMMUNICATIONS

 

News Provided by Acquire Media


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