GenesisCare founder and boss Dan Collins departs the group

Dan Collins is leaving GenesisCare which he founded in 2005. Picture: Renee Nowytarger

GenesisCare’s managing director Dan Collins is departing the business he founded in 2005.

It comes as the company’s future hangs in the balance with almost $2bn worth of debt owing.

Mr Collins built GenesisCare into a business from one practice in Brisbane to 440 practices across four countries over 18 years.

More recently, he has been based in California after the company purchased US-based 21st Century Oncology in 2020.

21st Century Oncology had previously entered Chapter 11 bankruptcy.

With a large debt pile, the US operation is understood to have placed strain on the operation, as its performance is said to lag that in Australia.

Chairman Michael Guiney said on Friday that the board was advancing the appointment of a new chief executive and managing director, with a new executive to start in the top job within the next two months.

Chief operating officer Michael O’Sullivan has been named as the interim chief executive and Dr Shaden Marzouk, USA President, will assume responsibility for the day-to-day leadership of the business and report to the board during the transition.

Mr O’Sullivan will be responsible for all global shared services, businesses in Australia, the United Kingdom and Spain, and Dr Shaden will continue to lead the US business.

GenesisCare is the world’s largest provider of radiotherapy, used for cancer patients.

It also provides patients with access to diagnostics, medical oncology, surgical oncology, radiotherapy and novel therapies alongside the opportunity to participate in the latest clinical trials.