Cancer care provider Icon Group is investing $50 million in developing three new cancer centres and a state-of-the-art chemotherapy medicine compounding facility, and expanding its existing Windsor Gardens treatment centre in South Australia.

The major investment comes as Icon prepares to receive final bids on October 22 in its sales process. Four groups are still in the running to buy the group after its investment bankers Goldman Sachs and Jefferies received eight indicative bids.