12 July 2012 | News | By BioSpectrum Bureau
AstraZeneca sells cancer management subsidiary
AZ sells its cancer subsidiary, Aptium Oncology
Singapore: AstraZeneca completed the previously indicated sale of the assets of its subsidiary, Aptium Oncology.
Aptium Oncology provided outpatient oncology management and consulting services in the US, managing outpatient cancer centers in affiliation with five hospitals in California, Florida, New Jersey and New York. The subsidiary generated revenues of $224 million in 2011 and of $43 million in 2012 up until completion of the disposals.
As indicated in the 2011 annual report, Aptium Oncology was a non-core business and AstraZeneca decided to transfer ownership of these cancer centers to each of the hospitals. These agreements have been reached over the last several months and the disposals have now been completed.
The completion of the disposals of Aptium Oncology assets does not impact on AstraZeneca's previously stated guidance for 2012.