Integrated Oncology Network Acquired by Cardinal Health for $1.115 Billion
Deal News | Feb 19, 2025 | Silver Oak Services Partners L
Silver Oak Services Partners, a private equity firm that specializes in business, healthcare, and consumer services companies, has completed the sale of its portfolio company, Integrated Oncology Network (ION), to Cardinal Health for $1.115 billion. ION, founded in 2008 and based in Nashville, TN, operates more than 50 practice locations and provides comprehensive oncology services. Under Silver Oak's ownership since 2018, ION executed strategic investments, acquiring 11 add-ons, to build a nationally recognized community-based oncology provider. Silver Oak's strategic focus was to establish ION as a leader in its sector, facilitating an enhanced continuum of care. Financial advisory and legal counsel for this transaction were provided by Moelis & Company LLC and Kirkland & Ellis LLP, respectively.
Sectors
- Healthcare Services
- Private Equity
- Mergers and Acquisitions
Geography
- United States – Integrated Oncology Network operates across 10 states and both Silver Oak Services Partners and Cardinal Health are based in the United States.
Industry
- Healthcare Services – The article describes a transaction involving Integrated Oncology Network, a provider of community-based oncology services.
- Private Equity – Silver Oak Services Partners is a private equity firm specializing in investing in service companies.
- Mergers and Acquisitions – The sale of Integrated Oncology Network to Cardinal Health is a significant M&A event.
Financials
- $1.115 billion – The sale price of Integrated Oncology Network to Cardinal Health.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Silver Oak Services Partners | Seller | Company | A private equity firm based in Evanston, IL, specializing in business, healthcare, and consumer services. |
| Integrated Oncology Network (ION) | Target Company | Company | A Nashville-based provider of community-based oncology services. |
| Cardinal Health | Buyer | Company | A health care services and products company acquiring Integrated Oncology Network. |
| Moelis & Company LLC | Financial Advisor | Company | Financial advisor to the sellers, Silver Oak Services Partners, in the transaction. |
| Kirkland & Ellis LLP | Legal Counsel | Company | Legal counsel to the sellers in the transaction. |
| Wade Glisson | Quoted Executive | Person | Partner at Silver Oak Services Partners commenting on the transaction. |
| Barry Tanner | Quoted Executive | Person | Silver Oak Executive Partner and former ION CEO commenting on the agreement. |