- Two nationally renowned leaders in quality, patient-centric cancer care are joining together to better serve patients with a singular focus on eradicating cancer
- Combined organization will be one of the largest cancer research and treatment organizations in the country with one of the largest geographic footprints, serving approximately 115,000 patients each year
- Strategic acquisition advances City of Hope’s vision to expand patient access and democratize world-class cancer care
City of Hope, a world-renowned, National Cancer Institute (NCI)-designated comprehensive cancer research and treatment organization, today announced it has entered into a definitive agreement to acquire Cancer Treatment Centers Of America (CTCA) a network of oncology hospitals and outpatient care centers across the United States. City of Hope’s strategic acquisition of CTCA® will advance the missions of both organizations, building a national, integrated cancer research and treatment system to transform the future of cancer care.
“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,” said Robert Stone, president and CEO of City of Hope and the Helen and Morgan Chu Chief Executive Officer Distinguished Chair. “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.”
City of Hope’s acquisition expands and accelerates the organization’s ability to rapidly translate research and science into lifesaving care through its unique model — connecting breakthrough discoveries and academic medicine expertise with excellent, community-based specialized cancer care to the benefit of patients and families served. This acquisition also expands the portfolio, reach and impact of City of Hope’s leading-edge cancer services and capabilities, including research and development, into more communities across the country.
“Building on more than three decades of unparalleled patient experience and quality care, we’re excited to become a part of City of Hope, and to take a step closer to reaching so many more cancer patients with our unique, patient-centered model,” said Pat Basu, M.D., M.B.A., president and CEO of CTCA. “Through the shared, patient-centric values of both organizations and expanded access as a result of the collaboration, cancer patients across the nation will be the ultimate beneficiaries of this relationship.”
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City of Hope is a national leader in advancing cancer research and treatment protocols, conducting nearly 1,000 clinical trials annually that can enroll approximately 25% of its patients. With more than 450 patent portfolios, 95 active investigator-initiated investigational new drugs (INDs) and approximately 50 IND applications submitted to the U.S. Food & Drug Administration every year, City of Hope is among the leading innovators in cancer research. The organization is also a pioneer in bone marrow and stem cell transplants with one of the largest, most successful programs of its kind in the U.S., having performed more than 17,000 procedures.
With CTCA, City of Hope builds on and accelerates its vision to forge partnerships and find new avenues for its expertise to positively impact as many lives as possible. In addition to the ongoing, significant expansion of its clinical network in Southern California, City of Hope previously acquired Translational Genomics Research Institute (TGen), which provides breakthrough genomics research. TGen’s capabilities are fully leveraged to provide highly specialized care and precision medicine treatment to City of Hope patients across its clinical care network. And in 2019, City of Hope launched AccessHopeTM to extend the reach of its clinical and research expertise directly to partner employers, including 17 of the Fortune 500 companies, so they can provide their employees with cancer information and expert clinical decision support.
Combined, City of Hope and CTCA will include approximately 11,000 team members, comprising the collaborative expertise of 575 physicians across a network of locations in California, including a new campus in Irvine opening in summer 2022, as well as Arizona, Illinois and Georgia. Basu will remain CEO of CTCA and report to Robert Stone.
“Cancer treatment is changing rapidly. Today, through advances such as immunotherapy, precision medicine and other treatments available through clinical trials, there are better survival rates and fewer side effects than ever before. A critical part of cancer care is closing the gap to access that exists for too many patients, particularly in underserved communities,” continued Stone. “By joining forces with CTCA, we’re taking a major step forward in our mission to democratize cancer care and bring today’s treatments and tomorrow’s discoveries to even more people who need them now.”
The transaction is expected to close in early 2022, subject to regulatory approvals. After close, City of Hope intends to convert CTCA to a nonprofit organization.
Source: Biospace
