Newport Beach-based radiation treatment provider OnCure Medical Corp. was acquired last week by San Francisco private equity firm GenStar Capital LLC.
Terms of the deal weren’t disclosed.
Privately held OnCure owns and runs 33 radiation clinics in California and Florida. It employs about 350 workers.
OnCure’s centers offer radiation treatments and diagnostic tests such as computed tomography and other scans.
The company also provides management services, including billing and collection as well as data warehousing, to doctors’ groups.
Dr. Shyam Paryani, chairman and medical director, and Jeffrey Goffman, president, founded OnCure in 1998. Richard Zehner, a former chief executive of Anaheim-based Alliance Imaging Inc., is OnCure’s chief executive.
Investors included Crossbow Ventures, a Palm Beach, Fla.-based private equity firm, Boston’s Halpern, Denny & Co. and Wellesley, Mass.-based private equity firm MedEquity Capital LLC.
In a release, GenStar said that the radiation market is highly fragmented.
GenStar “will be able to tap into a rich pipeline of opportunities as we execute strategic acquisitions into new geographic regions and existing markets,” said Robert Weltman, GenStar’s managing director.
,Vita Reed
