Cancer Treatment Centers of America - Tulsa Closing

[LandArchPoke]

Talk about a big blow... 400 pretty well paying jobs. Kind of frustrating how vague they are about the reasoning and 'difficulties' expanding access in Oklahoma.

Like why not put it on blast if it's something the state needs to change or is this a financial problem with their business and they're using the state as an excuse.

We all know healthcare here is awful, just frustrating to see. Between this and WPX that's two pretty big economic losses as usual lately. Hopefully this will be an opportunity for maybe OSU or TU/OU to scoop up some cancer doctors and expand their programs.

https://www.newson6.com/story/6064f6bd8e3dba0be539eeae/tulsas-cancer-treatment-centers-of-america-location-to-close-after-30-years

[TulsaBeMore]

Talk about a big blow... 400 pretty well paying jobs. Kind of frustrating how vague they are about the reasoning and 'difficulties' expanding access in Oklahoma.

Like why not put it on blast if it's something the state needs to change or is this a financial problem with their business and they're using the state as an excuse.

We all know healthcare here is awful, just frustrating to see. Between this and WPX that's two pretty big economic losses as usual lately. Hopefully this will be an opportunity for maybe OSU or TU/OU to scoop up some cancer doctors and expand their programs.  The big St. John Cancer Center at 51st & 129th E. Ave. is a few years old and already way too small.  We've been a customer there. 

https://www.newson6.com/story/6064f6bd8e3dba0be539eeae/tulsas-cancer-treatment-centers-of-america-location-to-close-after-30-years

It's a nice facility from the outside --- maybe  TU/OU or OSU could take over the building and the doctors?  OU expand premier cancer center to Tulsa?  Cancer Care Centers just sold their Philadelphia hospital to Temple University --- COVID may have taken a big bite out of the overall organization.  While its website still lists Tulsa in places, it now only shows 3 hospitals on its showcase page --- Chicago, Atlanta and Phoenix.  The Tulsa hospital was the outfit's 2nd after Schaumberg, IL 30 years ago.  I think Oral Roberts had something to do with the founder --- in that the founder had some experience with the ministry or City of Faith.  That ORU connection could be totally incorrect.     

[SXSW]

^ I think there was an ORU connection.  Before they built their new location they were located at Cityplex.

Agree this seems like a good opportunity for OU to expand its cancer care in Tulsa, like what Temple is doing at the recently-closed Philadelphia location.  

[shavethewhales]

Awful. This is a huge loss in many ways. It sounds like bad administration, which is so common in hospital systems and especially specialized cancer hospitals.

I do hope it becomes an opportunity for someone else.

Wish this town would stop taking one step forward, one step back.

[dbacksfan 2.0]

There is something going on with CTCA. Haven't found anything about the Phoenix locations yet, but the Philadelphia location is being taken over by Temple University. Correction Choice Cancer Center has sold a majority of it's business to Cancer Treatment Centers of America. So CTCA is expanding in Texas.

Temple University Hospital (TUH) and Cancer Treatment Centers of America (CTCA) have signed an asset purchase agreement for the buildings, equipment and supplies of the current CTCA Philadelphia comprehensive cancer center campus located at 1331 E. Wyoming, Ave., in the Juniata Park section of Philadelphia.

Following the transaction and pending approval from the Pennsylvania Department of Health, the hospital will be reconfigured and operated as a nonprofit institution, consistent with Temple Health’s charitable mission.

CTCA and TUH hope to close the transaction before the end of June.

https://www.templehealth.org/about/newsroom/temple-university-hospital-and-cancer-treatment-centers-america-sign-asset-purchase

Choice Cancer Care has sold a majority interest to Cancer Treatment Centers America
The shareholder of Choice Cancer Care has sold a majority interest to Cancer Treatment Centers America. Financial details have not been disclosed.

Choice Cancer Care (CCC) is a QOPI certified medical and radiation oncology practice with six locations across North Texas. It is among the busiest practices in the country for brachytherapy, a prostate seed implant therapy.

https://www.oaklins.com/us/en/deals/104708/?cn-reloaded=1

https://times-herald.com/news/2020/08/is-ctca-for-sale


Edited to correct the direction of the business transaction between CCC and CTCA.

[Laramie]

What a blow to the State of Oklahoma.  Hope Temple University provider acquisition comes to full fruition.

Maybe one of our universities (OU or OSU) will follow this model.

[Oil Capital]

There is something going on with CTCA. Haven't found anything about the Phoenix locations yet, but the Philadelphia location is being taken over by Temple University, and the major shareholder in Texas is getting otu.

https://www.templehealth.org/about/newsroom/temple-university-hospital-and-cancer-treatment-centers-america-sign-asset-purchase

https://www.oaklins.com/us/en/deals/104708/?cn-reloaded=1

https://times-herald.com/news/2020/08/is-ctca-for-sale

I think you got the story about the major shareholder in Texas backwards.  According to the articles you linked, that major shareholder was not a major shareholder of CTCA.  It was a major shareholder of Choice Cancer Care (a different company).  The major shareholder got out of Choice Cancer Care (by selling its interest in that company to CTCA).

[dbacksfan 2.0]

I think you got the story about the major shareholder in Texas backwards.  According to the articles you linked, that major shareholder was not a major shareholder of CTCA.  It was a major shareholder of Choice Cancer Care (a different company).  The major shareholder got out of Choice Cancer Care (by selling its interest in that company to CTCA).

Thanks, changed my comment to reflect the correct info.

[TSTF]

This is very sad.

My wife worked there for several years in surgery as an RN befoe recently leaving.

We remember the good days when the facility was thriving and full of patients that were treated like family.

Spouses of employees were treated like family as well.

It has been hard to watch as the service has diminished over the last few years.

Layoff after layoff...

A real shame!

https://www.tulsasecuritytaskforce.com/

[Red Arrow]

I saw on the TV a few weeks ago that CTCA was having difficulties making agreements with many insurance carriers.  Without those agreements, patients had to pay out of pocket for treatment.  Sad.