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Oncure Holdings Disclosure Statement Approved

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The U.S. Bankruptcy Court approved Oncure Holdings’ Disclosure Statement related to its Chapter 11 Plan of Reorganization and scheduled an October 3, 2013 hearing to consider the Plan. As previously reported, “The Plan contemplates certain transactions, including, without limitation, the following transactions: pursuant to an investment agreement dated June 22, 2013 (the ‘Investment Agreement’), Radiation Therapy Services, Inc. (‘RTS’) agreed to (1) buy 100% of the shares of Reorganized HoldCo upon the Effective Date of the Plan and (2) pay $42,500,000 in cash, subject to certain adjustments, and to guarantee $82,500,000 of the Amended Secured Notes. As of August 19, 2013, the Investment Agreement remains subject to the approval of the Bankruptcy Court. As of August 19, 2013, the Investment Agreement remains subject to the approval of the Bankruptcy Court. The Debtors are party to the Prepetition Term Loan Credit Agreement, under which the Debtors borrowed $15,000,000 in principal amount from the Prepetition Term Loan Lenders. The obligations arising under the Prepetition Term Loan Credit Agreement were secured by senior, first priority security interests in, and liens upon, substantially all of the Debtors’ assets. On June 19, 2013, the Debtors and the DIP Facility Lenders entered into the DIP Facility Credit Agreement and the Prepetition Term Loan Claims were satisfied in full. HoldCo issued the Prepetition Secured Notes in an aggregate principal amount of $210,000,000 pursuant to the Prepetition Secured Notes Indenture. All other Debtors are guarantors of the Prepetition Secured Notes, which are secured by second priority security interests in, and liens upon, substantially all of the Debtors’ assets. None of the non-Debtor Affiliates of HoldCo are obligors or guarantors under the Prepetition Term Loan Credit Agreement or the Prepetition Secured Notes Indenture.”

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