US-based medical and laboratory products maker Cardinal Health has agreed to acquire community cancer centre operator Integrated Oncology Network (ION) for $1.115bn in cash.
ION is a physician-led community oncology network with over 50 practice sites across 10 states. It serves more than 100 providers, enhancing local healthcare access.
The company offers a complete continuum of care across its member sites. This includes medical oncology, radiation oncology, urology, diagnostic testing, and ancillary services.
Following the acquisition, more than 50 practice sites of ION will join Navista, Cardinal Health’s oncology practice alliance.
Navista offers reimbursement services, management assistance, and a range of other offerings to community oncology practices.
ION’s practice management and growth services will integrate with Navista’s advanced services.
Additionally, the oncology practice alliance will help ION practices through artificial intelligence (AI)-powered advanced analytics.
This partnership will also provide actionable clinical and business insights through Specialty Networks’ PPS Analytics and SoNaR technology solutions.
This acquisition also accelerates the growth of the Navista, enhancing oncology and urology care across 10 states.
Cardinal Health CEO Jason Hollar said: “With their proven model providing extensive support of community oncology across the cancer care continuum and healthcare ecosystem, we’re confident Integrated Oncology Network will further accelerate our oncology strategy and enable us to create value for providers and patients.”
The Integrated Oncology Network’s business model is designed to meet the needs of its member practices.
It offers support services such as revenue cycle management, payor relations, physician recruitment, practice marketing, finance and accounting, human resources, and information technology.
When combined with Navista’s offerings, including its technology platform and value-based care services, ION is expected to enhance Cardinal Health’s suite of clinical and practice management solutions.
Furthermore, the integration will support independent community oncology practices.
Integrated Oncology Network CEO Barry Tanner said: “Integrated Oncology Network and Cardinal Health share a mission of helping community oncology practices deliver world-class patient care and a world-class patient experience to patients and families close to home.
“This partnership will give community practices the tools and technology they need to enhance and grow that mission and make a positive impact on patient outcomes.”
The transaction is subject to customary closing conditions, including necessary regulatory approvals.
In early 2021, Cardinal Health agreed to sell its Cordis business to Hellman & Friedman (H&F) for about $1bn.
