Duarte, Calif.-based City of Hope, a National Cancer Institute-designated comprehensive cancer research and treatment organization, announced Dec. 8 it will acquire Cancer Treatment Centers of America, a national network of oncology hospitals and outpatient care centers.
"This is a defining moment in the fight against cancer and a powerful opportunity to reach more cancer patients with the leading treatments, care and advanced research they critically need," Robert Stone, president and CEO of City of Hope and the Helen and Morgan Chu Chief Executive Officer Distinguished Chair, said in a statement. "CTCA has a strong commitment to patient-centric cancer care, and combining its network and services with City of Hope’s scientific expertise, clinical trials and patient care strengths will significantly increase the number of people who can access the latest lifesaving treatments."
The acquisition will include about 11,000 employees, combining the expertise of 575 physicians across locations in Arizona, Georgia, Illinois and California, including a new campus in Irvine set to open in summer 2022.
The sale is expected to close in early 2022, pending regulatory approvals, after which City of Hope intends to convert Cancer Treatment Centers of America to a nonprofit organization.