IBA Selected to Install Five-room Proton Therapy System in Shenzhen, China
Final contract negotiations for the public tender will start in the coming weeks
Louvain-la-Neuve, Belgium, 29 March, 2019 - IBA (Ion Beam Applications SA), the world’s leading provider of proton therapy solutions for the treatment of cancer, announces today that it has been selected by Shenzhen Municipal People's Government as its preferred vendor to install a Proteus®PLUS proton therapy solution in Shenzhen, China. Final contract negotiations will start in the coming weeks and revenue recognition will only start when a down payment has been received. IBA was selected following a comprehensive Government public tender conducted by Shenzhen Municipal Health Commission.
The center will be installed at the Shenzhen Tumor Hospital, which is a member of the Chinese Academy of Medical Sciences. IBA will equip the new five-room center with its Proteus®PLUS four-gantry room and one fixed beam room configuration including its latest generation Pencil Beam Scanning capability. The contract will also include a multiyear operation and maintenance contract as well as the design of the building in which the system will be located. The total consideration for the equipment and services supplied by IBA, which is still to be agreed, will be approximately EUR 90 million to IBA. Financing for the project has been secured.
Olivier Legrain, Chief Executive Officer of IBA commented: “Following a rigorous public tender process, we are delighted that IBA has been selected as the proton therapy provider for this important project by the Shenzhen Municipal People's Government. This will be the 5th Proteus®PLUS proton therapy solution in China and we are delighted that we can bring this high-quality and leading cancer treatment to more patients across China.”
-ENDS-
About IBA
IBA (Ion Beam Applications S.A.) is a global medical technology company focused on bringing integrated and innovative solutions for the diagnosis and treatment of cancer. The company is the worldwide technology leader in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA’s proton therapy solutions are flexible and adaptable, allowing customers to choose from universal full-scale proton therapy centers as well as compact, single room solutions. In addition, IBA also has a radiation dosimetry business and develops particle accelerators for the medical world and industry. Headquartered in Belgium and employing about 1,400 people worldwide, IBA has installed systems across the world.
IBA is listed on the pan-European stock exchange NYSE EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).
More information can be found at: www.iba-worldwide.com
* Proteus®PLUS is the brand name of Proteus®235
For further information, please contact:
IBA
Soumya Chandramouli
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com
Thomas Ralet
Vice-President Corporate Communication
+32 10 475 890
communication@iba-group.com
For media and investor enquiries:
Consilium Strategic Communications
Matthew Neal, Angela Gray, Lizzie Seeley
+44 (0) 20 3709 5700
IBA@consilium-comms.com
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