WEST PALM BEACH, FL – The Comvest Group, through its debt fund, Comvest Capital II L.P., has agreed to provide $15 million in debt and equity financing to Integrated Oncology Network, LLC (“ION”). ION provides oncology management, development and advisory solutions and capital for physician practices and hospitals who seek strategic, financial and management expertise.
The financing is in conjunction with ION partnering with, and acquiring a minority interest in, Vicura, LLC (“Vicura”). Vicura through its subsidiaries owns four radiation oncology centers in Southern California, as well as a medical physics company and a medical radiation oncology billing company. In addition, the physician partners of Vicura provide professional radiation oncology medical services at four hospital based cancer centers in Southern California. Vicura through its predecessor entities has owned and operated radiation oncology centers in the Southern California region for over twenty years.
About ION:
Integrated Oncology Network, LLC (“ION”) headquartered in Corona del Mar, California, is an oncology management, development and advisory firm that provides oncology solutions and capital for physician practices and hospitals who seek strategic, financial and management expertise. ION’s management team has expertise in assisting physicians with the formation of integrated oncology groups which can enhance operational efficiencies and optimize utilization while continuing to focus on providing the best patient care. ION provides solutions for transactional services, project development for cancer centers, financing, management services with expertise in radiation oncology operations, billing and collection, accounting, compliance, IT, M&A, physics and dosimetry and other administrative services. ION provides liquidity for physician owners as it invests as a minority partner in radiation oncology centers with both physicians and hospitals. ION’s management team has over 50 years of combined health care expertise, including working with several of the most prestigious oncology groups in the country as a trusted resource. The team is led by Jeff Goffman who was the founder of OnCURE Medical Corp., which is one of the largest providers of outpatient radiation oncology care in the U.S. ION is a privately held company whose shareholders include a small group of strategic investors.
About Comvest:
The Comvest Group is a leading private investment firm focused on providing debt and equity capital to lower middle-market companies. Our firm includes seasoned, senior level operating executives at all levels who partner with managers and owners of companies to grow businesses and create long-term value. Since 1988, Comvest has invested more than $2 billion of capital in over 200 public and private companies. For more information, please visit www.comvest.com.