Updated on 14 December 2012
Concord Medical acquires interest in MD Anderson Cancer Center Proton Therapy Center
Singapore: China-based Concord Medical Services acquired 19.98 percent of indirect ownership of the Proton Therapy Center (PTC) at the MD Anderson Cancer Center, University of Texas, through acquiring a minority interest in the general partner and facility manager.
Concord Medical purchased the interest from the existing owners of the general partner, and the transaction does not affect MD Anderson's ownership in the Proton Therapy Center. The purchase price of the all-cash transaction has not been disclosed.
After the acquisition closes, Concord Medical will become the second largest owner of the MD Anderson Proton Therapy Center, behind MD Anderson Cancer Center. Concord Medical will join both the board of directors of the PTC-Houston Management, general partner of the center, and the center's Advisory Committee.
"We're very excited to partner with MD Anderson Proton Therapy Center, one of the leading proton treatment centers in the world," says Dr Jianyu Yang, chairman and CEO. Concord Medical. "Proton treatment has become a widely accepted method of radiation therapy. Concord Medical plans to build and operate two proton centers in China. This transaction will enable us to gain valuable experience and knowledge of the operations of a proton therapy center from the world leader in proton therapy cancer care."
"MD Anderson welcomes Concord Medical to the partnership," says Dan Fontaine, senior vice president of business affairs for MD Anderson. "The clinical expertise and quality programs provided by our faculty and staff is why our Proton Therapy Center is the leader in the field."