"Together, we are creating a new model for how cancer care is delivered," City of Hope CEO, Robert Stone, says.
City of Hope, a National Cancer Institute (NCI)-designated comprehensive cancer research and treatment organization has successfully acquired Cancer Treatment Centers of America (CTCA), a national oncology network of hospitals and outpatient care centers, the organization announced on Wednesday.
"With the completion of this acquisition, City of Hope and CTCA are combining complementary strengths, with a shared commitment to providing the best, most compassionate care possible," Robert Stone, president and CEO of City of Hope, said in a press release. "Together, we are creating a new model for how cancer care is delivered, leveraging real-world cancer care experience to inform scientific innovation and making tomorrow’s new discoveries available to the people who need them today."
Pat Basu, MD, will continue to serve as president and CEO of CTCA, and will report directly to Stone.
By combining into one organization, City of Hope and CTCA hope to transform the future of cancer research and care, to advance their missions, and to build a national, integrated cancer research and treatment system
The combined organization will be one of the largest cancer research and treatment organizations in the country, with 575 physicians and more than 11,000 team members to fulfill its mission. It is expected to care for approximately 115,000 patients each year. The acquisition also increases City of Hope's reach from California into Arizona, Illinois, and Georgia.
The successful acquisition happened on schedule, only two months after City of Hope first announced its plans to acquire CTCA, which was planned to close in early 2022 and before City of Hope's new campus opens in Irvine, California.
Following the successful acquisition, City of Hope now intends to begin the process of converting CTCA to a nonprofit organization, according to the press release.
Melanie Blackman is a contributing editor for strategy, marketing, and human resources at HealthLeaders, an HCPro brand.
Photo credit: Duarte California January 23, 2020. This a picture of the front sign of the hospital and graduate medical school. / Michael Dominguez / Shutterstock