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Financing Closed for First Proton Therapy Center in New Jersey

Press releases may be edited for formatting or style | February 24, 2010
Teaming with New
Jersey practitioners
Somerset, N.J. -- ProCure Treatment Centers, Inc. (ProCure), Princeton Radiation Oncology and CentraState Health System announced Tuesday that they have closed financing and funded capital for the proton therapy center they are building in Somerset, N.J. An April groundbreaking ceremony is planned for the Center and they anticipate treating patients in 2012. It will be the first four-room proton therapy center in New Jersey and the metro-New York City area.

IBA (Ion Beam Applications S.A.) announced that it has closed with ProCure the contract to supply the proton therapy system at the ProCure Proton Therapy Center in Somerset. The contract is financed and in full force.

Currently available at only a handful of centers in the United States, proton therapy is an alternative to X-ray radiation for treating cancer. The therapy spares healthy tissue and results in far fewer short- and long-term side effects.
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According to statistics from the American Cancer Society, nearly 48,000 people in New Jersey and 101,000 in New York were diagnosed with cancer in 2009. Using conservative estimates, approximately 27,000 of those patients could be candidates for proton therapy. The proton center in Somerset will be able to treat about 1,500 patients a year.

"We were able to close financing on our third proton therapy center because of Princeton Radiation Oncology and CentraState Health System, a passionate group of physicians and a hospital determined to provide the region with access to proton therapy," said Hadley Ford, CEO of ProCure. "We are ready to start construction immediately, taking us a step closer to providing this important cancer treatment to more patients."

"A number of our radiation oncologists have treated cancer with proton therapy and seen firsthand how effective it can be. We are eager to provide this proven treatment option to our patients," said Brian Chon, M.D., a partner with Princeton Radiation Oncology, the radiation oncology practice that will provide clinical care at the Center. "We chose to align our group with ProCure because it has a depth of experience developing centers and providing an exceptional patient experience."

"CentraState is honored to be a part of this significant endeavor," said John T. Gribbin, FACHE, president & CEO of CentraState Health System of Freehold, N.J. "We've visited ProCure's center in Oklahoma and knew that we wanted that same treatment option here for the many patients who could benefit in our region."

The proton center will be constructed at 101 - 103 Cedar Grove Lane in Somerset (Franklin Township), N.J. A groundbreaking ceremony is planned for April 7. The 60,000-square-foot facility will have four treatment rooms, and all equipment to be used to treat patients in the center has been approved by the U.S. Food and Drug Administration. The development of the treatment center will create approximately 100 full-time jobs and 400 temporary positions for construction and start-up operations. New Jersey -based contractors will be used to construct the facility. The project will be funded entirely through private sources.