Health officials will launch an independent review into the financial viability of the radiation oncology sector after the country’s largest provider of cancer services, GenesisCare, emerged from bankruptcy a far smaller group.
GenesisCare, founded in Brisbane and backed by KKR, fell into bankruptcy protection in the United States on June 1. As part of the finalisation of its bankruptcy, the company, which once had a valuation of some $5 billion, has struck a deal with the Department of Health to deal with historical issues including the overcharging of Medicare through the use of its propriety payments system known as EasyPay.
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