ProCure Treatment Centers, Inc, a privately held healthcare company that specialises in proton therapy, has completed a USD40 million round of private equity financing led by Maverick Capital.
The funding will support the continued development and expansion of ProCure’s network of proton therapy centres. ProCure is the only healthcare company in the world that has developed and is operating multiple proton centres
The USD40 million financing follows two significant investments totalling over USD70 million led by McClendon Venture Company, LLC (MVC). MVC is owned by Aubrey K. McClendon of Oklahoma City, Oklahoma.
“We are extremely pleased to welcome Maverick Capital to the ProCure team,” said McClendon. “They are a highly respected private investment firm that invests in companies they expect to have strong growth potential. In the case of ProCure, like me, they also recognise the opportunity to change the way cancer care is delivered in local communities and make this proven technology available to more and more people.”
Steve Kapp, Limited Partner, Maverick Capital, says: “ProCure has emerged as the clear leader in the field of proton therapy and we are excited to join them in bringing this much needed technology to the market for cancer patients."
Proton therapy is an advanced form of radiation treatment and an important alternative to standard X-ray radiation for many patients with cancer and for some non-cancerous tumours. Proton therapy has been shown to be beneficial in the treatment of a broad range of tumour types including brain, central nervous system, gastrointestinal, head and neck, lung and prostate as well as sarcomas and many paediatric cancers. The precision of proton therapy makes it especially effective for treating children and adults with anatomically complex tumours such as base of skull and tumours along the spinal cord.
