GenesisCare: The Lowdown on a Possible Dropdown

Global oncology services provider GenesisCare has been hitting the headlines this year for all the wrong reasons. Most recently, it was reported that the group’s net leverage reached 40x at the end of September. GenesisCare’s struggles have come about despite shareholder support, on the back of its ill-fated acquisition of U.S.-based 21st Century Oncology.

Against the backdrop of a potential restructuring, investors have also been concerned about an “Envision” style new money transaction...