Finance Terms could Facilitate Reach of Proton Therapy
Jan 10 2021 Read 432 Times
Next-generation proton therapy systems developer Advanced Oncotherapy has announced a partnership agreement with asset financing partner DiaMedCare AG that will enable easier access to the Company’s LIGHT system by reducing the need for large initial upfront payments from customers. The partnership agreement will cover projects in Europe and the United States, in line with the Company’s aim to democratise proton beam therapy by deploying LIGHT systems in smaller clinics and urban environments compared with other systems on the market that require large installation sites and significant shielding.
Under the terms of the partnership agreement, DiaMedCare will acquire LIGHT systems and lease them back to the Company’s customers that are commissioning the LIGHT system for oncology treatments. In addition, DiaMedCare will also be able to bridge manufacturing costs until delivery of the LIGHT system to prospective buyers.
Kreske Nickelsen, Partner at DiaMedCare said: “Today, legacy proton therapy systems are usually associated with high upfront capital costs that can introduce a significant hurdle to adoption, particularly for many smaller treatment centres. DiaMedCare’s tailor-made lease financing solutions for Advanced Oncotherapy’s customers will eliminate large upfront payments for the system and will make proton therapy more accessible to local, smaller hospitals.”
Nicolas Serandour, CEO of Advanced Oncotherapy added: “We are pleased to sign this flexible financing agreement with such an experienced and specialised partner as DiaMedCare to support future sales of our LIGHT systems. The modularity of the LIGHT system allows Advanced Oncotherapy to offer its customers this unique financing opportunity and enable wider access to the LIGHT system. We believe this partnership will significantly increase our pipeline of sales opportunities and democratise proton beam therapy.”
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