CPPIB invests $325 mln in U.S. cancer treatment center operator

Fri Sep 26, 2014 12:49pm EDT
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TORONTO, Sept 26 (Reuters) - Canada Pension Plan Investment Board (CPPIB), the investment arm of Canada's national pension plan, said on Friday it has invested $325 million in privately held radiation oncology services provider 21st Century Oncology Holdings Inc through purchases of convertible preferred shares.

Fort Myers, Florida-based 21st Century operates the world's largest integrated network of cancer treatment centers and affiliated physician practices. It has 179 treatment centers in the United States and in six Latin America countries.

The investment will give CPPIB the right to nominate two directors to 21st Century's board.

An active global dealmaker, CPPIB manages net assets of C$226.8 billion on behalf of the Canada Pension Plan. (Reporting by John Tilak; Editing by Peter Galloway)