Feb 6, 2023
General Atlantic Weighs $2 Billion Sale of OneOncology
(Bloomberg) -- General Atlantic is exploring the sale of OneOncology, an operator of independent cancer-care practices, according to people with knowledge of the matter.
The growth equity-focused investment firm, which has backed OneOncology since 2018, is working with an adviser to solicit interest in the Nashville, Tennessee-based company, which could fetch more than $2 billion including debt in a sale, said the people, who asked not to be identified discussing confidential information.
A General Atlantic spokeswoman declined to comment. A OneOncology representative didn’t immediately respond to a request for comment.
OneOncology, led by Chief Executive Officer Jeff Patton, aims to provide patients with cost-effective and high-quality care close to home, according to its website. Its care providers work from more than 175 sites in states including New York, Louisiana and California, according to a December statement.
Other alternative-investment firms have made bets in the oncology space, including KKR & Co., which owns a stake in GenesisCare.
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