By Colin Kellaher
American Oncology Network, a alliance of community-based oncology practices, on Thursday unveiled plans to go public through a combination with blank-check company Digital Transformation Opportunities Corp.
The companies said the proposed combination gives the combined entity an enterprise value of about $500 million.
American Oncology, based in Fort Myers, Fla., began operations in late 2018, generates more than $1 billion in annual revenue from a platform that currently includes 107 physicians and 24 practices.
The companies said American Oncology’s current investors plan to roll 100% of their equity in the deal, slated to close in the first half of 2023.
Digital Transformation Opportunities completed its initial public offering in March 2021 with $333.5 million of cash in trust.
Write to Colin Kellaher at colin.kellaher@wsj.com
The idea of a fund that would do the opposite of what the Mad Money host suggests has been a running joke on social platforms like Reddit
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