Cancer Treatment Centers of America will fully transition to the City of Hope brand, a year after being acquired by the large, Los Angeles-based cancer research and treatment not-for-profit.
CTCA had hospitals in the Chicago, Atlanta and Phoenix markets when it was announced in December 2021 that City of Hope would acquire it for $390 million.
CTCA locations will now be called City of Hope Atlanta, City of Hope Chicago and City of Hope Phoenix and change all marketing, advertising, communications and engagement activities, City of Hope said in a statement.
Founded in Illinois, Cancer Treatment Centers of America moved its headquarters in 2015 from Schaumburg to Boca Raton, Fla., though the CEO, Dr. Pat Basu, retained a presence in the Chicago area. The hospital operator was founded in Illinois by Richard Stephenson, who purchased the former American International Hospital in Zion in 1988 and proceeded to build the business via acquisitions and aggressive television advertising and went on to become a major funder of conservative political causes.
Also announced today, Basu, a Crain's 40 Under 40 honoree in 2017, was named a managing partner at Varsity Healthcare Partners, a Los Angeles-based private equity firm, the firm said in a separate statement.
Basu will be based out of VHP's Chicago office and will lead the entirety of VHP's Operating Partner program in the role of managing partner, Varsity Operations. He will also serve as a member of the firm's investment committee.
The integration of CTCA into City of Hope will be supported by an advertising campaign launching Feb. 6, the statement said.
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CTCA facilities are now functioning as nonprofit organizations. City of Hope Chicago is now functioning as a nonprofit organization, awaiting IRS approval of its 501(c)(3) applications, City of Hope said in the statement. The integration means that City of Hope clinical and quality policies across all locations, along with joint quality reviews and tumor boards that operate across the system, the statement said.
City of Hope said in the statement that it is integrating its world-renowned expertise in CAR T-cell therapy and bone marrow and blood stem cell transplants to CTCA Phoenix and CTCA Chicago.
The system also reorganized its leadership structure as part of the integration, brining on Kevin Manemann as executive vice president and chief integration officer for the clinical enterprise. Manemann served for 20 years at Providence St. Joseph Health, where he most recently was chief executive of the southern division of the national health system. City of Hope said in the statement that as part of its evolution into a national system, it also recently hired Jo Ann Escasa-Haigh as chief business officer to oversee City of Hope's financial strategy, mergers and acquisitions, finance operations and managed care. In September, Philip Okala joined the organization as system president with oversight responsibilities for its portfolio of clinical care and research entities, the statement said.
The City of Hope system now serves about 134,000 patients each year, with more than 11,000 team members, 600 physicians and more than 1,000 scientists and researchers in California, Arizona, Illinois and Georgia.
This story first appeared in Crain's Chicago Business.
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