Icon Group - proposed acquisition of a lease at St Vincent’s Private Hospital Northside

Summary

The Icon Group (Icon Group) proposes to acquire a lease to establish a new radiation oncology clinic at St Vincent’s Private Hospital Northside in Chermside, Queensland.

Icon is a large provider of cancer care services. In Australia, Icon provides radiation oncology services, pharmaceutical compounding services, pharmacy management services and clinical cancer trials. Icon operates radiation oncology clinics in all states of Australia and the ACT.

St Vincent’s Private Hospital Chermside is part of the St Vincent’s Health Australia network of hospitals, one of the largest Catholic non-profit healthcare providers in Australia.

Market definition

The ACCC considered the likely impact of the proposed acquisition in the markets for the supply of radiation oncology services in the greater Brisbane region, and south east region of Queensland.

It was not necessary for the ACCC to form a concluded view in relation to the precise scope of the markets.

Competition analysis

The ACCC considered that Icon would likely be constrained by alternative suppliers of radiation oncology services, both existing and proposed facilities, in the greater Brisbane and south east Queensland regions.

Information available to the ACCC indicates that future demand for radiation oncology services is likely to grow in these regions, providing opportunities for alternative providers to remain, enter or expand in the future.

The ACCC concluded that the proposed acquisition was unlikely to substantially lessen competition in any market.