While the attention has been firmly on GenesisCares up-for-sale operations in the United States, some lenders are beginning to toy with the idea of a voluntary administration for the cancer services providers local operations.
GenesisCare is the largest operator of cancer care clinics in the country. Michele Mossop
It is understood the consideration of a voluntary administration is being driven by a Medicare overcharging bungle at the cancer care provider, as revealed by The Australian Financial Review in June. Sources said GenesisCares penalty could run into the hundreds of million of dollars, making an administration process a possibility for investors looking to protect their returns…
Read the full article at: https://www.afr.com/street-talk/genesiscare-s-medicare-snafu-leaves-lenders-eyeing-administrators-20230830-p5e0rt