American Oncology Network Merging with Digital Transformation Opportunities in $500M Deal

American Oncology Network and Digital Transformation Opportunities today announced a definitive merger agreement at a pro forma enterprise value of approximately $500 million. If approved, upon completion of the deal, the combined company expects to list on the Nasdaq.

American Oncology is a network of community-based oncology practices.  Since 2019, AON has generated compounded annual revenue growth of more than 60% through June 2022 and now generates more than $1 billion in annual revenue and operates profitably. AON’s platform currently includes 107 physicians and 24 practices across 71 locations in 18 states, according to a press release.

 Existing AON equity holders will roll 100% of their equity in AON. DTOC’s sponsor has agreed to subject its shares in the combined company to lock-up restrictions and various earnout thresholds.

The SPAC raised $300 million in a March 2021 IPO. Read more.

Total
0
Shares
Related Posts
Read More

Virgin Pulse Completes Acquisition of Welltok

Combining Welltok’s activation engine with Virgin Pulse’s daily engagement platform will drive better health outcomes and cost reductions, Virgin Pulse said.