News & Press Releases

ONCURE MEDICAL CORP. ANNOUNCES THEIR ACQUISITION OF RADIATION ONCOLOGY CENTERS (ROC)

March 30, 2006 Newport Beach, California - ("OnCURE"), a leading provider of outpatient radiation therapy services, today announced that it acquired the business of Radiation Oncology Centers ("ROC") through a transaction with Dr. Alan H. Porter. ROC has been in operation since 1974, and currently has four cancer therapy centers located in the Florida cities of Sarasota, Venice, Englewood and Port Charlotte.

Dr. Shyam Paryani, Chairman of the OnCURE Board of Directors and Medical Director, stated, "We are excited about this transaction as ROC's medical practice is considered one of the foremost prestigious and well-respected radiation medical groups in the state of Florida. This brings together two leading radiation oncology companies with similar clinical standards of excellence with respect to fighting cancer."

Dr. Alan Porter, added, "This combination of the two organizations is a natural extension of both companies' growth strategies and market presence here in the Sarasota and Bradenton region. The association of the Porter Radiation Oncology practice with the other OnCURE practices in Florida, which many have been organized over 30 years ago, provides an ongoing commitment to the most advanced technologies for patient treatment. The ROC physicians associated with our centers will continue to provide quality care to patients in their communities, while associating with OnCURE for capital and expert support resources."

"We are very pleased to complete this transaction utilizing a portion of the $125 million financing with Merrill Lynch Capital and other syndicate members which has provided OnCURE with a foundation to execute our strategy for growth and for additional potential acquisitions," said Richard Zehner, OnCURE's Chief Executive Officer.

"With the addition of these centers to our existing network in Southwest Florida, OnCURE is now the second largest freestanding provider of radiation therapy services in the State of Florida with 16 centers, and it ensures our continued commitment to expand our regional networks of radiation centers in association with quality doctors," said Jeffrey Goffman, President & Founder of OnCURE

 

ONCURE MEDICAL CORP. ANNOUNCES AMENDED SENIOR SECURED CREDIT FACILITY AND SUBORDINATED CREDIT FACILITY TOTALING $125 MILLION

February 17, 2006 Newport Beach, California - ("OnCURE"), a leading provider of outpatient radiation therapy services, today announced that it amended its Senior Secured Credit facility with Merrill Lynch Capital and added a Subordinated Credit facility with MCG Capital and Ares Capital for a total of $125 million. The proceeds were used to refinance OnCURE's debt, acquire the outstanding stock of Coastal Radiation Oncology Medical Group, Inc. ("Coastal"), and to provide capital for additional acquisitions and working capital.

"We are very pleased to complete this $125 million financing with Merrill Lynch Capital, MCG Capital, Ares Capital, ING, and others in the syndicate. "OnCURE now has the foundation for a commitment for capital with these relationships to execute its strategy for growth and for additional potential acquisitions," said Richard Zehner, OnCURE's Chief Executive Officer.

Coastal has been in practice since 1968, and owns eight centers in California in the cities of Salinas, San Luis Obispo, Santa Maria, Templeton, Ventura, Thousand Oaks, Westlake Village, and Simi Valley.

Dr. Shyam Paryani, Chairman of the OnCURE Board of Directors, stated, "We are excited about this transaction as Coastal is one of the premier radiation oncology medical groups in the country. This brings together two leading radiation oncology companies with similar clinical standards of excellence with respect to fighting cancer."

Dr. Jonathan Stella, the President of Coastal, added, "This combination of the two organizations is a natural extension of both companies' growth strategies and market presence. The Coastal physicians will continue to provide quality care to patients in their communities, while associating with OnCURE for expert support resources."

"With the addition of these centers to our existing network, OnCURE is now the largest freestanding provider of radiation therapy services in the State of California, and it ensures our continued commitment to expand our regional networks of radiation centers in association with quality doctors," said Jeffrey Goffman, President & Founder of OnCURE.

About OnCURE: (www.oncure.com)

OnCURE, founded in 1998, owns, operates and manages sixteen radiation therapy centers in California and Florida. The Company believes it is one of the largest operators of freestanding radiation centers in the country. OnCURE provides capital, technology, expert staff and management resources to physician groups, including clinical management, compliance, human resources, and other administrative services. OnCURE provides Intensity Modulated Radiation Therapy ("IMRT") services at many of its centers, as well as Prostate Implantation with radioactive seeds, Stereotactic Radiosurgery, and B-Mode Acquisition and Targeting ("BAT"). OnCURE also owns and or manages mobile Positron Emission Tomography and PET/CT units, and mobile High Dose Rate Brachytherapy units. OnCURE is privately held and its investors include Crossbow Ventures, Halpern, Denny & Co., and MedEquity Capital, LLC. For more information on OnCURE, please visit our web site at www.OnCURE.com.

About Crossbow Ventures: (www.crossbowventures.com)

Crossbow Ventures is a private equity investment firm founded by a former executive of Merrill Lynch Capital, and is based in Palm Beach, Florida. The firm has more than $170 million committed capital concentrated on lead investments located in the Southeast U.S. in Telecommunications, Information Technology, Life Sciences / Healthcare, and Financial Services sectors.

About Halpern, Denny & Co.: (www.halperndenny.com)

Halpern, Denny & Co. is a private equity investment firm founded by former executives of Bain & Company and Bain Capital. Based in Boston, the firm has more than $600 million committed capital to back strong management teams focused on driving their companies to leadership positions in their respective industries. Areas of investment focus include healthcare, media, distribution and consumer.

About MedEquity Capital, LLC: (www.medequity.com)

MedEquity Capital, LLC is a Wellesley, Massachusetts based private equity firm that provides expansion capital to emerging healthcare-related companies.

Forward-Looking Statements

Statements in this Press Release that are not historical facts constitute "forward-looking statements." Any statements contained herein which are not historical facts or which contain the words "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "should," and similar expressions are intended to identify forward-looking statements. Such statements reflect the current view of OnCURE with respect to future events and are subject to certain risks, uncertainties and assumptions, including, but not limited to, the risk that OnCURE may not be able to implement its growth strategy in the intended manner, including the ability to identify, finance, complete and integrate acquisitions and joint venture opportunities, risks regarding OnCURE's ability to successfully restructure under-performing facilities, risks regarding OnCURE's ability to meet capital requirements, risks regarding currently unforeseen competitive pressures and risks affecting OnCURE's industry, such as increased regulatory compliance and changes in regulatory requirements, changes in payor reimbursement levels and the development of additional alternative treatment modalities and technological changes. Should one or more of those risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein.