The U.S. is about to have not just one, but two, standalone publicly-traded oncology providers.
Florida-based American Oncology Network, a company with more than 100 affiliated doctors across 18 states, announced last week it plans to go public. The news comes about a year after another large oncology provider chain hit the stock market. Its shares have since lost roughly half their value.
The companies are taking their chances on the market at a particularly challenging time. The U.S. is on track to see its longest consistent decline in equity value in history, said Matt Wolf, RSM’s health care senior analyst. Despite the tough conditions, some companies still find it’s worth the risk to tap into the capital that comes with going public.
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