The University of Iowa Health Care is seeking approval from the Iowa Board of Regents to purchase oncology practice Mission Cancer + Blood for $280 million, as part of its ongoing efforts to tackle Iowa’s growing cancer rates.
The 43-year-old practice will continue to operate its 22 clinics, with the added benefits of UI Health Care’s resources and its National Cancer Institute-designated cancer center, according to a news release.
“Mission and UI Health Care have strong, long-standing, and trusted partnerships with health systems across the state and critical access hospitals in central Iowa. By joining forces with UI Health Care, we can provide more patients with access to comprehensive services, shortened time between diagnosis and treatment for rare and difficult cancers, and expanded options for the latest therapies offered as part of clinical trials,” said Phil Stover, chief executive officer of Mission, in a statement released Monday.
“Mission chose to unite with UI Health Care because we share the same vision of delivering world-class care close to home for Iowans, by Iowans. This agreement will enhance our commitment to providing the highest quality care and outcomes for patients with cancer. UI Health Care is committed to providing long-term, stable employment and meaningful engagement for all Mission team members, which is crucial to the lasting success of this collaboration,” he continued.
Iowa has one of the fastest growing cancer rates in the country, and the purchase will provide opportunities for oncology specialists to collaborate together in order to maintain local care and increase access to cancer detection, treatment and research across Iowa, particularly those in rural areas, the statement said.
“This is an opportunity to bring together our individual organizations’ strengths to better serve the needs of Iowans,” said Denise Jamieson, UI vice president for medical affairs and the Tyrone D. Artz Dean of the Carver College of Medicine. “Mission excels at building lifelong relationships with patients, providing personalized care, and helping patients receive the care they need quickly, efficiently, and close to home. This agreement will promote new levels of collaboration in cancer care, research, and education across the state. Working together, we have an opportunity to reduce the pain and suffering caused by cancer for many Iowans and train more physicians who go on to practice in the state of Iowa.”
According to the release, receiving an official comprehensive cancer center designation by the National Cancer Institute is considered the highest distinction for any cancer center, as NCI-designated centers are recognized for scientific leadership, clinical research, and serving their communities by integrating training and education.
NCP, Inc. is representing Mission as its exclusive financial advisor, and Dentons is acting as Mission’s legal counsel for the transaction.
