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The Oncology Institute Refinances $86 Million Debt Through OrbiMed Agreement
The Oncology Institute (TOI) finalized a strategic refinancing agreement with OrbiMed on Tuesday, using the new capital to repay an outstanding $86 million convertible note held by Deerfield. This transaction settles the company’s existing debt obligation while increasing its overall liquidity and adjusting its balance sheet structure.
The agreement replaces the previous debt arrangement with a new financing package provided by OrbiMed. By retiring the $86 million Deerfield note, the company eliminates the specific repayment terms associated with that instrument. This move serves to consolidate the firm’s financial obligations and provides the organization with additional capital reserves. The company confirmed the completion of the transaction on July 7, 2026, marking a shift in its long-term debt management strategy.
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Date: July 7, 2026
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