United Theranostics - Princeton, New Jersey location
United Theranostics has closed a $15 million senior debt facility with Old National Bank to support the expansion of its network of radiopharmaceutical therapy clinics across the U.S.
The Minneapolis-based company, which provides radiopharmaceutical treatments and molecular imaging for cancer patients in an outpatient setting, plans to use the funding to establish up to eight new centers within the next year. The facilities will be modeled after its existing locations in Glen Burnie, Maryland, and Princeton, New Jersey.
According to its website, the company has centers opening soon in Bethesda, Maryland, Orlando, Florida, Phoenix, Arizona, and West Los Angeles, California.
“The relationship with Old National Bank provides United Theranostics with a strong financial partner that will enable us to establish up to eight new centers across the U.S. during the next 12 months,” said CEO Rob Cherney. “We expect our rate of clinic growth to accelerate throughout 2025 and 2026, further establishing our nationwide network of community-based facilities.”
The company was founded by Dr. Michael Morris, Dr. Babak Saboury, and Dr. Eliot Siegel. It recently appointed Dr. Munir Ghesani as chief medical officer.
Foley & Lardner LLP advised United Theranostics on the transaction.
