The Oncology Institute Expands Into Chino, CA

Rhea-AI Summary

The Oncology Institute (NASDAQ: TOI) has acquired the practice of Dr. Labib Hashimi in Chino, California, expanding its presence to 42 clinics in the state. This move aims to improve patient access in Los Angeles, Riverside, and San Bernardino Counties. The acquisition is a strategic response to growing demand for TOI's value-based care model, emphasizing quality outcomes and underserved populations. The Chino/Chino Hills Clinic will continue operations seamlessly under its new management, enhancing service provision in the community.

Positive

• Expansion to Chino increases geographic coverage and access to care.
• Strategic acquisition strengthens TOI's presence in California healthcare market.
• Continued operation of Chino/Chino Hills Clinic ensures no disruption for patients.

Negative

• None.

Practice of Dr. Labib Hashimi Adds Another TOI California Location

CERRITOS, Calif., Dec. 19, 2022 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI), one of the largest value-based community oncology groups in the United States, has acquired the Chino, CA practice of Dr. Labib Hashimi. The acquisition enhances TOI’s geographic coverage in California, with the Chino practice marking TOI’s 42^nd clinic in the Golden State.

“We are excited to expand to Chino and Chino Hills, increasing access and convenience for our patients in these areas,” shared Brad Hively, CEO at TOI. “By welcoming Dr. Hashimi and his team, we are connecting our footprint in Los Angeles, Riverside, and San Bernardino Counties, allowing us to better serve patients in this community.”

This expansion comes in response to the continued strong demand for TOI’s differentiated care model which focuses on quality clinical outcomes, access for underserved populations, and value for the healthcare ecosystem.

Dr. Hashimi, former principal of Intercommunity Oncology of Chino Hills, now the TOI Chino/Chino Hills Clinic, shared, “Joining TOI is a natural fit for me and my practice. I have always kept my focus on outcomes and quality for my patients and know this partnership will benefit my patients and the Chino community.”

The Chino/Chino Hills Clinic, formerly Intercommunity Oncology of Chino Hills, located at 13768 Roswell Ave, Suite 105, Chino, Calif., 91710 (Ph: 909-591-0814), will continue to serve patients without interruptions or a change of hours.

About TOI
Founded in 2007, 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 approximately 1.7 million patients including clinical trials, transfusions, and other care delivery models traditionally associated with the most advanced care delivery organizations. With 90+ employed clinicians and more than 700 teammates in over 50 clinic locations and growing, TOI is changing oncology for the better. For more information visit www.theoncologyinstitute.com.

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

Investors
Solebury Trout
Maria Lycouris
mlycouris@soleburytrout.com

FAQ

What is the recent acquisition made by The Oncology Institute?

The Oncology Institute recently acquired the Chino, California practice of Dr. Labib Hashimi, marking its 42nd clinic in California.

How does the acquisition of Dr. Hashimi's practice impact TOI's operations?

The acquisition enhances TOI's geographic coverage and improves patient access in Los Angeles, Riverside, and San Bernardino Counties.

What is the focus of The Oncology Institute's care model?

TOI's care model focuses on quality clinical outcomes, increased access for underserved populations, and providing value within the healthcare ecosystem.

Who is Dr. Labib Hashimi and what will change after the acquisition?

Dr. Labib Hashimi is the former principal of Intercommunity Oncology, now part of TOI. The clinic will continue serving patients without interruption or change of hours.