General Atlantic, Renova Hospitals in talks to acquire American Oncology Institute

A consortium of General Atlantic and Renova Hospitals plans to acquire the Hyderabad-based Indian cancer-care network American Oncology Institute (a unit of Cancer Treatment Services International) from Siemens Healthineers. The transaction could value the company between INR 1,200 crore and 1,500 crore. Siemens Healthineers has appointed Alvarez & Marsal to act as an advisor on the divestment process.Founded in 2012 by a group of physicians and industry experts, American Oncology Institute operates 18 hospitals across South Asia. The company maintains a network of over 150 physicians across 17 locations and provides treatment for various forms of cancer. Siemens Healthineers acquired the cancer-care network in 2021 as part of its global purchase of Varian Medical Systems.