Street Talk

Oaktree Capital kicks off debt process for GenesisCare

Sarah Thompson, Kanika Sood and Emma Rapaport

Apr 10, 2025 – 6.28pm

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It’s been 14 months since collapsed cancer treatment giant GenesisCare hived off its local operations and found them a new owner in Oaktree Capital Management. Now, the alternative asset manager is working on the next stage of a turnaround – tidying up the capital structure.

GenesisCare’s Australian business is seeking to lock in a new debt facility and has commenced early-stage soundings with potential lenders, people briefed on the plan said on Thursday. Houlihan Lokey’s restructuring boss, Jim McKnight, has been appointed to run the deal, the sources said.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.