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    IBAB   BE0003766806

ION BEAM APPLICATIONS, SA

(IBAB)
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Real-time Quote. Real-time Euronext Bruxelles - 12/01 11:35:26 am
14.44 EUR   +1.69%
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Ion Beam Applications : Proton Therapy contract finalized with Advocate Radiation Oncology Affiliate in Florida 

10/24/2021 | 09:00am EST

          

Louvain-La-Neuve, Belgium, October 24, 2021 IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology and the world’s leading provider of proton therapy solutions for the treatment of cancer, today announces that its proton therapy contract with Advocate Radiation Oncology, via its affiliate Southwest Florida Proton, has been finalized. IBA will start to recognize revenue from the contract in 2021.

The finalization of the contract follows the announcement earlier in the year that IBA had been selected by Advocate Radiation Oncology for its new radiation oncology center. The site will serve the greater population of Southwest Florida in a centralized location between Lee and Collier County. The contract involves the delivery of IBA’s Proteus®ONE* solution including Pencil Beam Scanning (PBS), Cone Beam CT (CBCT), Philips Ambient and a fully integrated quality assurance (QA) hardware and software package from IBA Dosimetry America, Inc. Advocate Radiation Oncology expects to start treating patients by 2023.

The typical end-user price for a Proteus®ONE system with a 10-year maintenance contract ranges between 40 and 50 million US dollars.

Olivier Legrain, Chief Executive Officer of IBA, commented: “The finalization of this contract highlights the growing momentum of proton therapy in the US. As we continue to reinforce our position in the region, we are hugely excited about the future opportunity there. We look forward to attending the ASTRO meeting this weekend and engaging with further potential partners.”

Arie Dosoretz, CEO of Advocate Radiation Oncology, said: “We are firmly committed to providing the cancer patients of Southwest Florida with every radiation option they need and are excited for the next steps of this critical project. IBA delivers the most innovative proton technology in the world, and our patients deserve nothing less.”

*Proteus®ONE is a brand name of Proteus 235

***ENDS***

About IBA

IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA is also a leading player in the fields of industrial sterilization, radiopharmaceuticals and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 1,500 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.

IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).

More information can be found at: www.iba-worldwide.com

About Advocate Radiation Oncology

Advocate Radiation Oncology is a locally owned practice with convenient locations in South Florida. The practice’s mission is to provide compassionate health care expertise to cancer patients. Advocate Radiation Oncology is directed by a team of world-class, board-certified radiation oncologists,

For more information, please visit AdvocateRO.com

CONTACTS

Soumya Chandramouli
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com

Olivier Lechien
Corporate Communication Director
+32 10 475 890
communication@iba-group.com

Consilium Strategic Communications
Amber Fennell, Angela Gray, Lucy Featherstone
+44 (0) 20 3709 5700
IBA@consilium-comms.com

Attachment

  • 20211024-Advocate_final_contract-EN

© OMX, source GlobeNewswire - EU Press Releases

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Financials
Sales 2021 312 M 353 M 353 M
Net income 2021 -1,10 M -1,24 M -1,24 M
Net cash 2021 65,0 M 73,6 M 73,6 M
P/E ratio 2021 -361x
Yield 2021 1,45%
Capitalization 420 M 475 M 475 M
EV / Sales 2021 1,14x
EV / Sales 2022 0,99x
Nbr of Employees 1 512
Free-Float 68,9%
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Olivier Legrain Chief Executive Officer, Director & MD
Soumya Chandramouli Chief Financial Officer
Pierre Mottet Chairman
Yves Jongen Director, Chief Research Officer & MD
Marcel Miller Independent Director
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