For Immediate Release
New Company Acquires Controlling Interest in Radiotherapy Clinics of Georgia to Serve as its Initial Platform
Atlanta, GA. January 9, 2007 – Physician Oncology Services, L.P. (“Physician Oncology”) announced today that it will build a preeminent provider of outpatient radiation oncology care in the U.S. Backed by Oak Hill Capital Partners (“Oak Hill”), Physician Oncology said that it acquired a controlling interest in Radiotherapy Clinics of Georgia (“RCOG”) to serve as a platform for growth, a move consistent with the company’s strategy to partner with leading radiation oncology centers and physicians. With seven Atlanta locations, RCOG is a nationally known provider of outpatient radiation oncology services. RCOG is the largest single provider of radiation therapy care in Georgia and is led by a team of 13 Board Certified radiation oncologists and a staff of over 180 people.
Physician Oncology will be headed by Louis Stripling, a successful healthcare industry executive with over 17 years of experience in radiation oncology, along with a seasoned team of other healthcare executives. Physician Oncology is well-positioned to grow through acquisitions of other premier radiation oncology centers and an expansion of the RCOG platform through de novo center developments and partnerships in new markets.
“We are extremely excited about our new partnership with RCOG and look forward to building on the excellent clinical reputation, extensive patient and physician referral system, and proprietary clinical outcomes database that RCOG has established over the past 25 years,” said Mr. Stripling. “In addition, with a capital partner like Oak Hill, I am confident we will be the partner of choice for other leading radiation oncologists throughout the U.S.”
Dr. Frank Critz, the founder and Medical Director of RCOG, will continue as Medical Director and be an owner of Physician Oncology. “I have long had an interest in helping to create a national company and just never found the right partner,” said Dr. Critz. “I have been approached by many groups in the past, but Physician Oncology really understands the business and is committed to maintaining RCOG’s patient-focused culture, high standard of clinical care, and practice of evidence-based medicine. I look forward to working with Louis and Oak Hill to grow Physician Oncology. I am equally excited about devoting even greater time to patient care at RCOG now that I have a partner in Physician Oncology to manage the business side of the practice.”Steven Gruber, Managing Director at Oak Hill Capital Partners, said, “We are very excited about this opportunity. With Physician Oncology’s world-class management and physician partners, this will be an excellent platform upon which to build.”