The Oncology Institute Continues Southern California Expansion

Rhea-AI Summary

The Oncology Institute, Inc. (NASDAQ: TOI) announced the acquisition of Dr. Ranjan Sapra's practice, enhancing its presence in Orange County, California. This merger expands TOI’s network to 93 physicians and advanced providers across 55 clinics in five states. Patients will access over 170 clinical trials, physician dispensary services, and various treatment programs. Effective July 1, 2022, Dr. Sapra’s practice will relocate to TOI’s Fountain Valley clinic. The partnership aims to improve patient care while maintaining uninterrupted services during the transition.

Positive

• Acquisition strengthens TOI's network to 93 specialized providers.
• Access to over 170 clinical trials for patients.
• Enhanced services like physician dispensary for oral chemotherapeutics.

Negative

• None.

Orange County-based practice of Dr. Ranjan Sapra to combine with TOI.

CERRITOS, Calif., July 07, 2022 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI), one of the largest value-based community oncology groups in the United States, announced today the acquisition of the practice of Dr. Ranjan Sapra, MD. This partnership expands TOI’s network of 93 specially trained physicians and advanced practice providers across 55 clinics in five states, four of which are in Orange County, California.

“We are thrilled to grow our team with the addition of Dr. Ranjan Sapra’s practice,” said TOI’s Chief Executive Officer, Brad Hively. “Thanks to the vast experience and trust that he has earned with his patients throughout the years, Dr. Sapra and his team will enable TOI to bring high-quality, value-based oncology care to more patients in Orange County.”

TOI delivers outstanding clinical outcomes by focusing on individualized patient care plans and incentivizing physicians to do what’s right for their patients while avoiding the financial toxicity that often plagues cancer patients and their families. As a result of the partnership, Dr. Sapra’s patients will now have access to enhanced services, including:

• A leading clinical research program that offers patients access to more than 170 clinical trials.
  
  
• Comprehensive physician dispensary services that offer convenience, savings, and resources for financial assistance to patients receiving oral chemotherapeutics and injectables.
  
  
• Outpatient blood transfusion, multiple convenient clinic & treatment locations, and radiation programs.
  

“I am thrilled to be joining such an innovative organization that is changing oncology for the better," said Dr. Ranjan Sapra, MD. “I am happy to be bringing TOI’s capabilities and industry experience to my patients, enhancing the service we provide to them.”

Effective July 1, 2022, Dr. Sapra’s clinic at 11190 Warner Ave Suite 405, Fountain Valley, CA 92708, will be moving to TOI’s current location, 11100 Warner Ave Suite 214, Fountain Valley, CA 92708. Dr. Sapra will continue to serve patients at TOI’s Santa Ana location on Fridays. Appointments are currently being scheduled without interruption. The Fountain Valley clinic’s phone number is (714) 594-7820. The Santa Ana clinic’s phone number is (714) 542-0102.

About TOI
Founded in 2007, The Oncology Institute of Hope and Innovation (TOI) is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of more than 1.5 million patients including clinical trials, stem cell transplants, transfusions, and other care delivery models traditionally associated with the most advanced care delivery organizations. With 80+ employed clinicians and more than 600 teammates in 50+ clinic locations and growing, TOI is changing oncology for the better.

Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions and on the current expectations of The Oncology Institute and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of The Oncology Institute. These forward-looking statements are subject to a number of risks and uncertainties, including the outcome of judicial and administrative proceedings to which The Oncology Institute may become a party or governmental investigations to which The Oncology Institute may become subject that could interrupt or limit The Oncology Institute’s operations, result in adverse judgments, settlements or fines and create negative publicity; changes in The Oncology Institute’s clients’ preferences, prospects and the competitive conditions prevailing in the healthcare sector; the risk that any required regulatory approvals could adversely affect the company; failure to continue to meet stock exchange listing standards; the impact of COVID-19 on the company’s business; those factors discussed in the documents of TOI filed, or to be filed, with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that The Oncology Institute presently does not know or that The Oncology Institute currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect The Oncology Institute’s expectations, plans or forecasts of future events and views as of the date of this press release. The Oncology Institute anticipates that subsequent events and developments will cause The Oncology Institute’s assessments to change. The Oncology Institute does not undertake any obligation to update any of these forward-looking statements. These forward-looking statements should not be relied upon as representing The Oncology Institute’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts

Media
The Oncology Institute
Julie Korinke
juliekorinke@theoncologyinstitute.com
(562) 735-3226 x 88806

Juan Lezama
juanlezama@theoncologyinstitute.com
415.623.6611

Investors
Solebury Trout
Maria Lycouris
mlycouris@soleburytrout.com

FAQ

What is the recent acquisition announced by TOI?

TOI announced the acquisition of Dr. Ranjan Sapra's practice to expand its oncology services in Orange County.

When did the acquisition of Dr. Sapra's practice become effective?

The acquisition became effective on July 1, 2022.

How many clinics does TOI operate now?

TOI now operates 55 clinics across five states.

What benefits will Dr. Sapra's patients receive after the merger?

Patients will gain access to more than 170 clinical trials and enhanced physician dispensary services.

What is the stock symbol for The Oncology Institute?

The stock symbol for The Oncology Institute is TOI.