PALO ALTO, Calif., Oct. 25, 2012 /PRNewswire/ -- Varian Medical Systems (NYSE: VAR) and Advanced Particle Therapy LLC (APT) and its Special Purpose Company, Georgia Proton Treatment Center, LLC today announced that they have signed an agreement by which Varian will provide its ProBeam system for the Georgia Proton Treatment Center, slated to be built in midtown Atlanta. The Center will be operated by Emory Healthcare.
The supply agreement, valued at $83 million, covers technology for a five-room treatment center. APT is serving as developer for the $200 million project, through The Georgia Proton Treatment Center, LLC, a special purpose entity that was set up to design, build, equip, and own the treatment center. Emory Healthcare faculty and staff will provide physician services, medical direction, and other administrative services to the center.
This is the third proton therapy center project that Varian is undertaking in conjunction with APT. Varian and APT are also currently commissioning a ProBeam system at the Scripps Proton Therapy Center in San Diego, California, and collaborating on the development of a proton therapy center at the University of Maryland."Varian is delighted to be undertaking another project with APT, a company whose management team has deep experience in management, finance, medical device business development, nuclear engineering, and particle therapy operations," said Moataz Karmalawy, general manager of Varian's Particle Therapy business. "It's especially gratifying to be working with APT on a system that will be operated by Emory Healthcare, as Varian has a long history of working with the Emory Radiation Oncology Department, where our most advanced systems for external beam photon radiotherapy have been used to treat cancer patients for more than a decade." "Proton therapy involves the use of a controlled beam of protons to target tumors with higher levels of precision than is possible with other forms of radiation therapy, potentially limiting damage to healthy surrounding tissue and reducing the side effects of treatment," says Walter J. Curran, Jr., MD, Executive Director of the Winship Cancer Institute and Chair of the Department of Radiation Oncology at the Emory University School of Medicine. "We are enthusiastic about the prospect of operating the first proton therapy facility in the State of Georgia—one of only nine in the U.S.—as well as the opportunity to work on collaborative research projects with other institutions establishing best practices for the use of proton therapy to treat cancer." Varian will provide the Georgia Proton Treatment Center with the company's ProBeam system, which provides pencil beam scanning on a rotational gantry, and includes integrated imaging, robotic patient positioning and software for treatment planning and information management.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV