KKR to acquire 63% in Australian healthcare provider GenesisCare

Private equity firm Kohlberg Kravis Roberts (KKR) today agreed to acquire a 63-per cent stake in Australian closely-held healthcare provider GenesisCare, for an undisclosed sum.

Sydney-based GenesisCare operates more than 70 cancer and cardiovascular clinics and facilities across Australia.

In the past 12 months, the company's 1,000 employees, including a team of doctors, healthcare specialists and management professionals have treated around 350,000 patients.

''KKR acknowledges the essential role played by GenesisCare in providing the healthcare outcomes to patients in communities right around Australia,'' Justin Reizes, Head of KKR Australia said.

''We look forward to supporting GenesisCare as it seeks to expand services further into areas of unmet need.''

New York-based KKR, which has invested over $400 billion since its founding in 1976, has invested more than $9 billion in health care companies. Its current investments in health care include Accellent, Alliance Boots, Ambea AB, Biomet, Capsugel, China Cord Blood, HCA and Jazz Pharmaceuticals.