City of Hope has completed its acquisition of Cancer Treatment Centers of America and now plans to convert the entity into a nonprofit. The Duarte, Calif.-based nonprofit is a National Cancer Institute-designated comprehensive cancer center with more than $6 billion in total assets acquired the network of oncology hospitals and outpatient centers for a reported $390 million, reports The Nonprofit Times.
The combined organization will serve approximately 115,000 patients each year, with more than 11,000 employees and 575 physicians across a network of locations in California, including a new City of Hope campus in Irvine opening this summer. Founded in 1988, CTCA has hospitals in Atlanta, Chicago and Phoenix in addition to five outpatient cancer centers, located in downtown Chicago; Gilbert, Ariz.; Gurnee, Ill.; Phoenix, and Scottsdale, AZ. Read more.
