Bloomington, Indiana-based ProCure Treatment Centers has raised $40 million in private equity financing led by Maverick Capital. The funding will help ProCure develop and expand its network of proton therapy centers. Proton therapy is a form of radiation treatment and an alternative to standard X-ray radiation for patients with cancer and for some non-cancerous tumors. Previously, ProCure had raised more than $70 million from investors including McClendon Venture Company.
ProCure Treatment Centers, Inc. (ProCure), a privately held healthcare company that specializes in proton therapy, announced today that it completed a $40 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 centers. ProCure is the only healthcare company in the world that has developed and is operating multiple proton centers.
The $40 million financing follows two significant investments totaling over $70 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 recognize the opportunity to change the way cancer care is delivered in local communities and make this proven technology available to more and more people.”
“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,” said Steve Kapp, Limited Partner, Maverick Capital.
“The recent financing will be instrumental in continuing our mission to increase patients’ access to proton therapy. We are delighted to have a premiere group like Maverick Capital invest in our company. We have been very pleased to have the financial and business support of our existing and new investors. Bringing proton therapy into the community where most patients are treated for cancer is an extremely complex undertaking. It requires investors with experience and vision. We are very fortunate to have MVC and Maverick working with us,” said Hadley Ford, CEO of ProCure.
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 tumors. Proton therapy has been shown to be beneficial in the treatment of a broad range of tumor types including brain, central nervous system, gastrointestinal, head and neck, lung and prostate as well as sarcomas and many pediatric cancers. The precision of proton therapy makes it especially effective for treating children and adults with anatomically complex tumors such as base of skull and tumors along the spinal cord.