Corona del Mar, California – Integrated Oncology Network, LLC (“ION”) today announced that it is expanding its partnership in the metropolitan New York city area with Premier Physicians of New York, PLLC (“PPNY”), a multispecialty oncologic group practice. ION acquired a minority equity interest in New York City Second Land Partners (“NYCSLP”) owner of the New York Radiation Associates (“NYRA”) freestanding cancer center located in Forest Hills, NY
Dr. Roberto Lipsztein, Medical Director of NYRA said, “It is a wonderful opportunity to bring to Queens our association with PPNY and enhance the level of integrated care in a similar fashion to what we have accomplished in Manhattan.”
“For over four years, ION has been building networks across the United States of over 200 oncology-focused physicians to provide quality and cost efficient patient care. ION is honored to broaden our partnership with Dr. Lipsztein and extend our expert management skills to Queens,” stated Grant Ingersoll, ION’s President and Co-Founder.
Dr. Richard Stock, a partner in NYCSLP and PPNY attested, “We have several oncological physician partners in Manhattan who have practices in additional boroughs, and this is especially true for Queens. I am tremendously excited to add the Forest Hills practice to PPNY’s two Manhattan centers and continue to enhance the level of care throughout New York City.”
[eltdf_separator class_name=”” type=”full-width” position=”center” color=”#666666″ border_style=”dashed” width=”” thickness=”1″ top_margin=”20″ bottom_margin=”20″]About ION
Integrated Oncology Network, LLC and its subsidiaries (“ION” or the “Company”) is a radiation oncology management and cancer center development company that provides oncology solutions for physician practices and hospitals that seek strategic, financial, and management expertise. ION provides solutions for the formation of integrated oncology groups and other compliant physician models, development for cancer centers, financing, and management services with expertise in radiation oncology operations (accounting, compliance, IT, M&A, physics and dosimetry), billing & collection, and strategies on ACO models and other risk contract relationships. ION provides partial liquidity for physician and hospital owners as it invests as a minority partner in radiation oncology centers with both physicians and hospitals. ION’s senior management team has over 100 years of combined health care expertise, including working as a trusted resource with several of the most prestigious oncology groups and hospital systems in the country. ION is the exclusive oncology center development partner to Philips Healthcare (“Philips JV”), as well as joint venture partner to HCA. ION currently has investments in 18 radiation cancer centers in partnership with approximately 230 physicians. ION is committed to patient care and quality treatment, and accordingly, has partnered with some of the most respected physician groups in their communities. ION is a privately held company whose shareholders include a group of strategic investors, including Capricorn Investment Group and Comvest Group, and additionally, Madison Capital Funding as a debt partner. For more information on ION, please visit our web site at www.ion-llc.com.
[eltdf_separator class_name=”” type=”full-width” position=”center” color=”#666666″ border_style=”dashed” width=”” thickness=”1″ top_margin=”20″ bottom_margin=”20″]About Capricorn Investment Group
Capricorn Investment Group is a private, independent investment firm designed to be an ideal partner for clients desiring a global portfolio driven by consistent returns and underpinned by a principled philosophy. Capricorn currently manages approximately $5 billion through various investment strategies, which cover a range of areas, from long term, diversified global growth investment strategies, venture capital and private equity, credit strategies, and “clean and green” growth capital. Capricorn’s investment philosophy is grounded in a strong fundamentals focused investment model, comprehensive research on long term, global mega-themes, such as energy, agriculture, transportation, consumer, health and wellness, technology, and consideration of business smart sustainability principles.
[eltdf_separator class_name=”” type=”full-width” position=”center” color=”#666666″ border_style=”dashed” width=”” thickness=”1″ top_margin=”20″ bottom_margin=”20″]About Comvest Group
The Comvest Group is a leading private investment firm focused on providing debt and equity capital to lower middle-market companies. Our firm includes seasoned, senior level operating executives at all levels who partner with managers and owners of companies to grow businesses and create long-term value. Since 1988, Comvest has invested more than $2 billion of capital in over 200 public and private companies. For more information, please visit www.comvest.com.
[eltdf_separator class_name=”” type=”full-width” position=”center” color=”#666666″ border_style=”dashed” width=”” thickness=”1″ top_margin=”20″ bottom_margin=”20″]Forward-Looking Statements
Statements in this Press Release that are not historical facts constitute “forward-looking statements.” Any statements contained herein which are not historical facts or which contain the words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “should,” and similar expressions are intended to identify forward-looking statements. Such statements reflect the current view of ION with respect to future events and are subject to certain risks, uncertainties and assumptions, including, but not limited to, the risk that ION may not be able to implement its growth strategy in the intended manner, including the ability to identify, finance, complete joint venture opportunities, risks regarding currently unforeseen competitive pressures and risks affecting ION’s industry, such as increased regulatory compliance and changes in regulatory requirements, changes in payor reimbursement levels. Should one or more of those risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein.
