City of Hope cancer hospital in Duarte announced Wednesday it has completed its acquisition of Cancer Treatment Centers of America, a nationwide network of oncology hospitals and outpatient care centers.
“With the completion of this acquisition, City of Hope and Cancer Treatment Centers of America 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 statement. “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.”
Under the $390 million deal, City of Hope and CTCA combined will employ roughly 11,000 team members and 575 physicians across a network of locations in California and three other states, serving about 115,000 patients annually, according to the hospital.
City of Hope previously said it intends to convert CTCA to a nonprofit organization.