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Icon founders score $115m payday as EQT snaps up cancer care business

Carrie LaFrenzSenior reporter

Updated Nov 19, 2021 – 4.42pm, first published at 9.02am

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Co-founders and former Icon Group chairman Stuart Giles and his wife Cathie Reid are enjoying an estimated $115 million payday in their final exit from the cancer care services provider.

The Brisbane-based couple exited their stake of just over 5 per cent on Friday as Icon was snapped up by global investment firm EQT, which bought a majority stake for about $2.4 billion including debt.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com

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