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Australian Cancer Care Provider Expands to Asia Pacific as Part of Its Mission to Reduce Global Cancer Burden

Icon Group raises S$759 million to support the company’s strategic expansion into Asia to meet the growing demands for cancer care in the region.

Asia accounts for 60 percent of the world’s population and approximately have of global cancer burden. The cancer incidence is forecasted to rise, reaching 10.6 million cases by the year 2030, thus calls for the need in substantial investment in cancer care delivery.

Australian cancer care provider, Icon Group will be using the S$ 759 million raised to repay existing debt and continue investing in ensuring quality in cancer care delivery. Reaching a wide demographic, they are aiming to provide world class technologies and oncology expertise.

Icon Group introduced specialised radiation technology and audit tools for patients at the Vinmec Central Park Hospital in Vietnam. This will enable personalised radiation treatment planning for the patients. In another effort to expand across the Asia Pacific region, Icon Group signed a partnership earlier in June 2019 with Mount Alvernia Hospital, Singapore, to invest in a new comprehensive and integrated cancer centre site.

Breaking to the Hong Kong Market, Icon Group acquired in September 2019 an oncology-focused group, SunTech Medical Group, which will be funded by the amount raised by Icon Group. In mainland China, Icon has also signed partnerships with the renowned Sanbo Hospital Group and United Family Healthcare Group, which will introduce Icon’s radiation oncology services during the financial year 2020.

Mark Middleton, Chief Executive Officer, Icon Group, said, “The refinancing of Icon Group allows us to continue our mission of bringing the best care possible, to as many people as possible, wherever they live. This year alone, our strategic expansion into Asia has seen Icon Group enter two new markets, Hong Kong and Vietnam, and embed our expertise in Singapore and China through partnerships with medical institutions that have a reputation of clinical excellence and share our philosophy of providing high quality, personalised care. Our strong pipeline will enable us to continue to elevate the standard of cancer care to areas of unmet need, especially in Asia.” [APBN]