Digital Transformation Opportunities in a regulatory filing said shareholders voted in favor of combining with American Oncology Network, which will now trade on the Nasdaq. When announced in October 2022, the deal had a pro forma enterprise value of approximately $500 million.
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.
While the blank-check firm lost 99.5% of its cash in trust taking American Oncology public, the parties in June waived the deal’s $60 million minimum cash condition and agreed to sell $65 million in Class C units.
AON generates more than $1 billion in annual revenue and operates profitably. Read more.
