AstraZeneca has completed the previously disclosed 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 $43 million in 2012.
Aptium Oncology was determined to be a non-core business and AstraZeneca had 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 transfers have now been completed.
The completion of the transfer of Aptium Oncology assets is not expect to affect the company’s earnings guidance.
