The Canada Pension Plan Investment Board (CPPIB) has invested US$325 million in 21st Century Oncology Holdings, an owner of cancer treatment centres, through a series of convertible preferred shares.
The Florida-based company offers a comprehensive range of cancer treatment services, including radiation therapy, and is focused on delivering patient care in personal and convenient settings.
It operates 179 treatment centres, including 144 centres located in 16 U.S. states and 35 centres in six countries in Latin America.
“This investment fits well with relationship investments’ strategy to provide strategic, long-term capital to industry leading companies where CPPIB can participate in the future success of the business and help create greater value through an ongoing partnership,” says Scott Lawrence, CPPIB’s managing director, head of relationship investments.
CPPIB will have the right to nominate two directors for appointment to the company’s board of directors.
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