Cancer care provider Icon Group has embarked on an $810m debt raising to fund its expansion into Asia.
The company was previously owned by Australian private equity firm Quadrant and was purchased by Queensland Investment Corporation in 2017 for more than $1bn with Goldman Sachs private equity and China’s Pagoda Investment.
Arranging the Term Loan B facility was investment bank Goldman Sachs and law firms Gibson Dunn and Gilbert + Tobin.
Icon has described itself as Australia’s largest provider of cancer care, offering patients medical and radiation oncology.
It also supplies oncology drugs.
The funds will help fund a new partnership in Vietnam for Icon and help finance part of Icon Group’s acquisition of oncology-focused group SunTech Medical Group in Hong Kong.
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