Proposal could bring Proton Therapy to Switzerland and GCC Region

Geneva-based investment and asset management firm Saba Partners SA has signed a letter of intent(LOI) for the proposed purchase of a three-treatment room LIGHT proton therapy system from Advanced Oncotherapy for a total contract value of up to US$107 million (equivalent to c.£75.5 million). The proposal would include the system’s installation in a new medical centre planned at Glion near to Montreux and an extended long-term maintenance and warranty agreement. The LOI is non-binding and acceptance would depend on the CE certification requirements for the system being met.

Abdullah Alghamdi of Saba Partners, said: “Saba Partners look forward to finalising our agreement with Advanced Oncotherapy for a LIGHT system that would enable us to offer patients in Switzerland access to this revolutionary proton therapy technology. We are planning to build a centre of excellence for cancer treatment in Glion as the first step in building an ecosystem of medical centres, and the LIGHT system is a key element to this ambition.

“We share Advanced Oncotherapy’s vision of democratising proton therapy through innovative technologies and look forward to the next phase, including the construction of the centre. Through our affiliates, we have a strong presence in the medical area in the GCC region(1), including in 12 locations totalling more than 500 hospital beds and 3,000 employees. This is an attractive platform to support the commercial roll-out of the LIGHT Systems in the region.”

Nicolas Serandour, Chief Executive Officer of Advanced Oncotherapy, said: “We are pleased to announce this letter of intent for the proposed purchase of a three-treatment room LIGHT system with Saba Partners for their new medical centre in Glion.

 “As we move towards certification of our first commercial LIGHT system in Daresbury, we remain on track for the proton-accelerating units to accelerate protons to 230 MeV, the energy required for therapeutic applications, to occur later this year and we continue to progress the installation of the treatment room with University Hospitals Birmingham NHS Foundation Trust.

(1) Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates.

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