A major cancer treatment company has filed for bankruptcy.
GenesisCare filed for bankruptcy protection Thursday to sell its business.
The healthcare company plans to exit its US operations and focus on Australia, Spain and the UK.
During the bankruptcy process, doctors and patients are looking for new care centers.
In western North Carolina, physicians estimated that GenesisCare physicians performed 80 percent of the region’s oncology surgeries.
Colin Bird, a surgeon with GenesisCare, estimates that doctors in the system see 300 new patients a month.
At this particular facility in Asheville, North Carolina, all 15 surgeons were fired.
The Australia-based company entered the US market in 2020 by purchasing 21st Century Oncology.
However, this merger left the company with high levels of debt and was unprofitable.
Already an unprofitable company, 21st Century Oncology filed for bankruptcy in 2017 before being acquired by GenesisCare.
GenesisCare will attempt to sell the company to recoup some of its losses. They filed for bankruptcy with $1.7 billion in debt.
“GenesisCare’s U.S. business has great potential, with outstanding physicians, valuable payer relationships, high patient satisfaction and a desirable U.S. presence,” GenesisCare U.S. President Shaden Marzouk said in a statement.