General Atlantic has invested $200 million in a startup focused on supporting the entire continuum of cancer care treatment, according to a press release and Wall Street Journal report.
The startup — OneOncology — is a combination of cancer-treatment practices Tennessee Oncology, West Cancer Center (also based in Tennessee) and New York Cancer & Blood Specialists. Healthcare technology and services company Flatiron Health, which focuses on oncology, will power OneOncology’s technology and data platform.
General Atlantic’s investment makes it the majority owner of the new company. General Atlantic, based in New York, is a private equity firm targeting investments in healthcare and other sectors.
Such significant private equity investments have remained stead in oncology, with other notable deals including Vestar Capital Partners’ 2008 acquisition of 21st Century Oncology, Welsh Carson’s 2004 acquisition of U.S. Oncology and, more recently, Pharos Capital’s 2018 acquisition of Horizon Oncology and subsequent launch of Verdi Oncology.