Physician Oncology Services, LP (POSI), and Vantage Oncology, today announced that they will merge to create a nationwide network of outpatient radiation oncology centers. The combined company will be named Vantage Oncology, and is backed by the financial commitment of Oak Hill Capital Partners, a private equity firm and investor in the healthcare sector. POSI has been a portfolio company of Oak Hill Capital since January 2007. Its primary operation is RC Cancer Centers (previously known as Radiotherapy Clinics of Georgia), which was founded in 1984.
The combined company will operate 40 radiation oncology centers in 13 states nationwide, providing critical oncology services to more than 1,000 patients per day. Michael Fiore will lead the new company as CEO, based in Manhattan Beach, Calif., and will be joined by an experienced team of continuing managers from Vantage and POSI.
“Patients at our centers will benefit from this merger through shared technological and clinical expertise and a commitment to innovation and best practices for effective treatment. Our physicians will benefit from being part of a larger, stronger organization that will offer additional opportunities for growth and collaboration,” said Don Holton, CEO of POSI.
The new Vantage network will include more than 80 oncologists as physician partners and treating physicians.
Founded in October 2002, Vantage Oncology acquires, joint ventures, develops and operates radiation oncology centers. Recent developments at Vantage include the establishment of multi-specialty oncology care organizations (OCO’s), bringing together radiation oncologists, medical oncologists, and surgical specialties in combination with a radiation oncology center of excellence.