Icon Group acquired SunTech Medical Group.

Icon Group, Australia's largest dedicated provider of cancer care with a growing reach into New Zealand and Asia, acquired SunTech Medical Group, Hong Kong’s oncology-focused group. Financial terms were not disclosed. Mark Middleton, CEO of Icon Group said: “Hong Kong’s cancer spend is expected to nearly double from HKD$13bn ($1.6bn) to over HKD$24bn ($3.1bn) by 2026 due to an ageing population and increase in medical tourism from mainland China. We see an opportunity to complement existing cancer care providers by increasing capacity in the market to meet this growing demand. As such, we have sought out a partner who is equally committed to providing the very best services in this area and we have found this in SunTech Medical Group.”