Victoria Capital Partners acquired a controlling stake in Oncólogos del Occidente, Colombia’s largest privately-held provider of comprehensive cancer treatment. Terms of the transaction were not disclosed.
(Press Release) BOGOTA – June 26, 2017 – Victoria Capital Partners (“VCP”) announced today a significant growth capital investment in Oncólogos del Occidente (“ODO”), Colombia’s largest privately-held provider of comprehensive cancer treatment, acquiring a controlling stake in ODO. As part of the transaction, Victoria also made a capital injection in ODO that will be used to support and accelerate ODO’s continued growth in Colombia through the development of three new integrated cancer treatment centers. This capital injection will be used to strengthen the capital structure of the company and support its current growth plan, aiming at doubling its size over the next four years. Simultaneously, VCP acquired a block of additional shares from the ODO shareholders. As a result, Victoria will be ODO’s controlling shareholder, with the founders continuing as minority shareholders focused on serving patients. Specific terms of the transaction were not disclosed.
Ricardo Vazquez, Partner of VCP in Bogota said: “We are very excited about our investment in Oncólogos del Occidente and to be partnering with such highly recognized and accomplished physicians that founded the company 25 years ago. Over the years, Oncólogos has developed a strong sector presence in Colombia’s cancer treatment segment with a comprehensive cancer service model characterized by its widely-recognized high quality standards. We believe Oncólogos is uniquely positioned to seize the opportunities in the under-penetrated and growing cancer segment of the Colombian healthcare market through an aggressive investment plan. In that regard, we believe that Oncólogos will benefit from our experience as controlling shareholders of Grupo Oncoclínicas, the leading privately-held provider of cancer treatment in Brazil, as we seek to lead Oncólogos into its next growth and consolidation stage.
Founded in 1992, ODO is the largest privately-held provider of comprehensive cancer treatment in Colombia. ODO has an integrated service model, offering all services related to the oncology specialty. The company provides integral cancer treatment in 4 states in Colombia clustered in the central west region of the country (Colombia´s coffee growing area) representing roughly 10% of the national population or nearly 4 million people. In those four states ODO reaches an average of over 90% of the population. ODO covers its area of influence with a network of 7 integrated modern facilities (4 outpatient care and 3 hospitalization clinics) in 4 different cities. The comprehensive range of oncology-focused services provided to its patients include imaging diagnosis, clinical laboratory, radiotherapy (including IMRT, high dose brachytherapy or internal radiotherapy and radio surgery), chemotherapy, oncology hospitalization and surgery, palliative care and pain clinic, psycho-oncology and clinical research, for both pediatric and adult patients. Additionally, ODO supports its oncology operation by offering non-oncologic health services, including hospitalization, high-complexity surgery, critical and intensive care units, imaging diagnosis and clinical laboratory.