Under the deal, UC San Diego will acquire the outpatient cancer treatment facility and its operations. In advance of the sale, NVCI plans to file for Chapter 11 bankruptcy protection and restructure its debt.
“The sale of NVCI’s operations and treatment facility to UCSD, along with the debt restructuring, are great news for NVCI, our patients and the community, and if approved, will preserve NVCI’s important mission and ensure that Nevadans will continue to receive comprehensive and innovative cancer care,” Michael W. Yackira, chairman of NVCI’s board of directors, said in the release. “UCSD, one of our nation’s leading health systems, is particularly renowned in the field of cancer through the UCSD Moores Cancer Center, and will continue NVCI,s tradition of excellence.”
The sale is expected to close in early 2012.
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