The collapse of the cancer care provider has left reputations in tatters.
It wasnt meant to end like this. Only four years ago, GenesisCare, the Brisbane-born cancer care provider with more than 400 locations spanning Australia, the UK, US and Spain, had just sealed a $1.5 billion acquisition to conquer the US market.
The business had grown quickly from one clinic in 2005 to the countrys largest cancer care provider, and saw the opportunity to replicate its success in the worlds largest healthcare market. It was also eyeing China.
David Young, the new GenesisCare CEO, says the pandemic created significant operational and financial challenges.
With US private equity giant KKR and state…
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