On April 20, global alternative asset management firm TPG and AmerisourceBergen Corporation announced they have agreed to acquire OneOncology, a network of leading oncology practices, from global growth equity firm General Atlantic for $2.1 billion.
TPG has agreed to acquire a majority interest in OneOncology, and AmerisourceBergen will acquire a minority interest in the company. OneOncology’s affiliated practices, physicians and management team will also retain a minority interest in the company, according to a news release announcing the deal.
“OneOncology has been focused on strengthening independent oncology practices by helping them grow and deliver high-value cancer services, and General Atlantic’s involvement and investment have been central to our success,” said Dr. Jeff Patton, CEO of OneOncology. “As we look ahead, we are excited to continue building the platform in partnership with TPG, a proven investor in the healthcare provider space, and AmerisourceBergen, a healthcare leader with significant capabilities and solutions for community oncology practices.”
TPG is investing in OneOncology through its U.S. and European late-stage private equity platform, TPG Capital. AmerisourceBergen plans to rebrand as Cencora in the second half of 2023.
Read more about the agreement here.
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