LAS VEGAS - Nevada Cancer Institute announced Friday plans to sell its out-patient facility, operations and some personal property to UC San Diego Health System.
Operations will continue as normal until the sale is finished. As part of the agreement, the non-profit corporation will have to file Chapter 11 bankruptcy. The sale will reduce the NCI's debt by more than $50 million.
Nevada Cancer Institute officials say patients will not see a significant change in their care.
"Over time, we will continue to be able to build based on the foundation that the UCSD system and the Moore's Cancer Center have - to be able to, over time, offer more clinical trials to people and again to be part of something that has again achieved enormous standards of excellence," said Nevada Cancer Institute co-founder Heather Murren.?
The sale is expected to be completed in 2012.
Source: http://www.8newsnow.com/story/16177624/breaking-news-nevada-cancer-institute
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