On 22 July, the joint-venture consortium formed by CR Group and Australia’s Macquarie Capital signed an official agreement to acquire 50.01%-74% stake in GenesisCare, the largest cancer radiotherapy and heart disease treatment services provider in Australia. The deal is pending approval by the Australian Foreign Investment Review Board (FIRB).

GenesisCare is the largest cancer and heart disease treatment service provider in Australia, as well as the largest private cancer care organization in Spain and the UK. Its medical and management teams have extensive professional experiences, and developed a complete set of internationalized operating models for cancer and heart disease treatment services. The company has become an icon in the Australian healthcare industry.

According to an official at GenesisCare, through the strategic cooperation, Australia’s medical expertise and technology will be introduced to emerging markets, including China, to improve the standards of local medical treatment services. CR Group pledged to facilitate GenesisCare in developing the Chinese market, and assist its management team in implementing the global business expansion initiatives.