ProCure Secures Financing for Proton Therapy Cancer Treatment Center in Oklahoma City
(Bloomington, Ind. / Oklahoma City—April 19, 2007) Final financing was secured today for construction of the
Oklahoma ProCure Treatment Center, Oklahoma’s first proton therapy cancer treatment center, being
developed by ProCure Treatment Centers Inc. and clinical partners Radiation Medicine Associates and
Radiation Oncology Associates.
Senior debt and mezzanine financing was obtained for the through IBA and ProCure’s partnership with
two world-class financial institutions, Fortis and KBC (Belgium). A $35 million equity investment was
secured in December from Oklahoma City-based McClendon Venture Company, LLC (“MVC”) and
several related individuals in Oklahoma City, including Shannon T. Self and John B. Frick. MVC is
owned by Aubrey K. McClendon, co-founder, Chairman and Chief Executive Officer of Chesapeake
Energy Corporation.
“There are no radiation cancer treatments in the world today as precise and effective as proton therapy,”
said Hadley Ford, chief executive officer of ProCure, which is based in Bloomington, Ind. “Financing
our OKC facility ensures we can provide a world-class cancer treatment facility for the people of
Oklahoma City and utilize world-class therapeutic equipment from IBA. Having completed installation of
more than half of the proton therapy systems in the world, IBA was the partner of choice to consider in
such a critical venture.”
“IBA is excited about bringing the incredible cancer-fighting benefits of proton therapy to the people of
Oklahoma,” said Pierre Mottet, IBA’s chief executive officer. “The ProCure facility will place it among a
select group of institutions at the vanguard of cancer treatment.”
The 55,000-square-foot facility is scheduled for completion in summer 2009. The facility will feature four
treatment rooms, including two inclined-beam rooms, one fixed horizontal beam room and one gantry
treatment room, offering radiation oncologists broad versatility in selecting the precise proton treatment
for a particular cancer and situation.
ProCure and IBA will oversee construction of the TK&A-designed facility, including installation of
IBA’s proton therapy equipment. The project will have little financial impact on IBA’s performance in
2007. It should essentially affect fiscal years 2008 and 2009.
Proton therapy, the most advanced form of external radiation therapy available today, uses a controlled
beam of protons to halt the growth of cancer cells in a tumor. Nearly 50,000 cancer sufferers have taken
advantage of the technology to effectively treat various forms of cancer. The procedure is non-invasive,
painless, and destroys tumors while greatly reducing damage to the surrounding, healthy tissue. Proton
therapy’s ability to precisely target tumors makes it ideal for treating tumors near vital organs, particularly
in children, who are more sensitive than adults to the effects of radiation.
About ProCure
Indiana-based ProCure Treatment Centers, Inc. was founded in 2005 by Dr. John Cameron, who played a
pivotal role in the creation of one of the nation’s first proton therapy treatment facilities, the Midwest
Proton Radiotherapy Institute in Bloomington, Indiana. ProCure provides management support and a
proven model for the complete design, construction, operation and maintenance of proton therapy
treatment centers in an effort to make proton therapy accessible to everyone who would benefit from the
treatment. For more information about ProCure Treatment Centers, Inc., please visit
www.ProCure.com.
About IBA
IBA is the undisputed world market leader in proton therapy, with over 50 percent market share. Twelve
institutions in the United States, Asia and Europe have already selected a proton therapy system from
IBA. The IBA Particle Therapy product line ranges from small, one-room compact systems to top-of-theline
carbon configurations. IBA is the only company that has regulatory clearances, including FDA
clearance to market cyclotron-based particle therapy systems. IBA is listed on the pan-European stock
exchange EURONEXT, is integrated into the NextEconomy market segment and belongs to the BelMid
index. Website: http://www.iba-worldwide.com.
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Proton therapy is currently only available in five other locations.
To date, nearly 50,000 cancer sufferers worldwide have benefited from proton therapy.
Additional treatment facilities are needed in communities across the country to keep up with
increasing public demand. In 2005, only 3,000 treatment slots were available for an estimated
250,000 qualified patients. Cancer is the second leading cause of death in Oklahoma with nearly
18,000 new cases diagnosed each year.
“With the construction of this proton therapy treatment center, Oklahoma City is taking another
important step toward leading the nation in the development and use of the latest technology to
treat cancer,” Mayor Mick Cornett said during today’s event. “The ProCure facility is a
wonderful complement to our thriving biotech and medical research community.”
Construction of the facility is expected to create approximately 850 temporary jobs, and once
operational, will provide 100 full-time jobs with salaries averaging more than $100,000 per year.
In the United States, proton therapy is currently only available in five major academic centers:
Loma Linda University Medical Center in southern California, Massachusetts General Hospital
(Harvard Medical School) in Boston, the Midwest Proton Radiotherapy Institute in Bloomington,
Indiana, The University of Florida in Jacksonville, and the MD Anderson Cancer Center in
Houston, Texas.
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