Proton Therapy USA, CareCapital form Proton Therapy Global Management

Jun 30 2010

Proton Therapy USA and CareCapital plc (AIM:CARE) announced today the formation of Proton Therapy Global Management (PTGM). The Company will design, develop and manage a global network of proton therapy centers, providing access to this specialized and highly effective treatment to the world's growing population of cancer patients. Proton therapy is a precise form of radiation treatment that has been very successful in treating a wide range of localized tumors, while leaving healthy tissue mostly intact.

“There are currently only 28 proton centers around the world that even at full capacity fall significantly short in meeting demand for this transformational treatment.”

PTGM will develop and manage proton therapy facilities in partnership with some of the world's most prominent hospitals, which are leaders in providing the most advanced forms of cancer care. To date, letters of intent have been signed to build five centers in the US and UK, including at two leading academic cancer research centers and at a site in central London, respectively. The Company is in the process of launching a funding entity, Proton Therapy Global, Inc. that aims to raise several hundred million dollars for investment in individual proton centers.

The founding PTGM team possesses more than 100 years of combined healthcare experience, having held senior executive positions in leading healthcare services' organizations and global corporations. In addition, management possesses extensive capital markets experience and expertise in structuring facilities management and real estate partnerships.

"The formation of PTGM represents the combination of a highly focused vision, a compelling business strategy and a disciplined operating plan orchestrated by one of the most experienced management teams in the global healthcare industry," stated Vernon R Loucks, Chairman of PTGM and former Chairman of Baxter International.

In addition, the PTGM team has provided critical leadership to the first facility in the world specifically designed to treat cancer patients with proton therapy, which so far has treated more than 15,000 patients. The team has also built and managed hospitals and medical facility projects on four continents.

"Cancer patients are increasingly demanding access to proton therapy because it's non-invasive, effective and unlike standard X-ray radiation causes significantly fewer side effects," noted Ronald Anderson, President and CEO, Proton Therapy USA, who previously was instrumental in developing and launching the Proton Therapy Treatment and Research Center at Loma Linda University Medical Center, Loma Linda, California. "There are currently only 28 proton centers around the world that even at full capacity fall significantly short in meeting demand for this transformational treatment."

"Recent technology innovations have permitted the development of scalable, modular proton systems that can be deployed to address larger and broader communities of patients in a highly cost effective manner," said Dr Michael Sinclair, Executive Chairman of CareCapital. "These advances mean our approach is much less capital intensive and allows PTGM to target building in major metropolitan areas."