KKR Is Seeking To Sell Its 45% Stake Of GenesisCare

The Wall Street Journal reported on Wednesday that the private equity firm KKR & Co. L.P. (NYSE: KKR) is exploring the sale of its minority stake of Genesis Care, an Australia-based cancer therapy provider.

KKR acquired a 45 percent stake in Genesis Care in 2012. The company recorded sales of 350 million Australian dollars (approximately $264.5 million) last year.

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The Wall Street Journal noted that the private equity firm is "looking to cash in its investment."

Cancer treatment and health-care companies have attracted a lot of interest among private equity companies given the rapidly expanding demand, particularly in China. According to Genesis Care's Managing Director Dan Collins, the Chinese market for cancer treatment will exceed the U.S. market within the next 15 to 20 years.