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Bridget Carter

Robert Cooke takes charge of GenesisCare, new directors to be announced soon

Bridget Carter
Former Healthscope and Symbion boss Robert Cooke. Picture: Mark Wilson
Former Healthscope and Symbion boss Robert Cooke. Picture: Mark Wilson

Former Healthscope and Symbion boss Robert Cooke has been appointed chairman of GenesisCare Australia.

Mr Cooke, based in Melbourne, runs Connelly Health Consultants.

He was chief executive of Healthscope, the country’s second-largest private hospital operator, from 2014 to 2017 when it was listed on the Australian Securities Exchange.

He ran Symbion Health, which is now owned by EBOS and Healius, between 2005 and 2009.

From 2009 to 2011, he ran London-based Spire Healthcare and led a buyout of Mayne Group by CVC Asia Pacific and GIC back in 2003.

GenesisCare was previously chaired by former CSL boss Brian McNamee.

He left not lot long before the business was placed in Chapter 11 bankruptcy in the US last year.

It took on too much debt to buy 21st Century Oncology for $US1.5bn, a business that had also previously been in Chapter 11 bankruptcy.

In March, GenesisCare was in the process of appointing a new board to oversee its profitable Australian operation and European arm, as it continues a retreat from the US market. Derwent Search was tapped to find directors.

Final board appointments are expected to be announced next week and will include two independent directors, doctor representatives and representatives from private equity companies.

The GenesisCare business has since been recapitalised, and as a result it is now effectively controlled by a lender group headed by Oaktree Capital Management.

The Australian operations of GenesisCare have always performed strongly.

The understanding is that the company has a new equity and expansion plan and is speaking to doctors about investing in the business.

Founded by Dan Collins in 2005, GenesisCare is the largest provider of cancer care services in Australia, with 40 oncology centres.

It has cancer treatment centres in the US, Britain and Spain.

The previous owners before its restructure were Kohlberg Kravis Roberts and China Resources, after Mr Collins sold down his interest.

Elsewhere, Healius is believed to be refinancing its debt with Westpac. It comes as its investors, including John Wylie’s Tanarra Capital, await news of the outcome of its strategic review. Refinancing may delay the need for any asset sales amid challenging operating conditions for healthcare providers.

Bridget Carter
Bridget CarterDataRoom Editor

Bridget Carter has worked as a writer and editor for The Australian’s DataRoom column since it was launched in 2013, focusing on capital markets, mergers and acquisitions, private equity and investment banking. She has been a journalist for more than 18 years, covering a broad range of events and topics, including high profile court cases and crimes, natural disasters, social issues and company news.

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Original URL: https://www.theaustralian.com.au/business/dataroom/robert-cooke-takes-charge-of-genesiscare-new-directors-to-be-announced-soon/news-story/7f44bb2adb8a288577f2176144aa7d3c