In a merger of opposites, City of Hope to buy Cancer Treatment Centers of America for $390 million
City of Hope, the Los Angeles-based nonprofit hospital system, said Wednesday that it will purchase Cancer Treatment Centers of America for $390 million.
The deal, a study in contrasts, brings together a hospital system that is famous for research — City of Hope was instrumental in the development of synthetic insulin and the basic technologies behind many cancer drugs — with one better known for marketing that critics have described as overly aggressive and for controversies involving how it selects patients and their insurance.
