IBA receives down payment for ProteusPLUS contract in Shenzhen, China

IBA receives down payment for ProteusPLUS contract in Shenzhen, China

Press releases may be edited for formatting or style | October 01, 2019 Rad Oncology Proton Therapy
Louvain-la-Neuve, Belgium, 1 October, 2019 - IBA (Ion Beam Applications SA), the world’s leading provider of proton therapy solutions for the treatment of cancer, announces that it has received the down payment for the contract with the Shenzhen Municipal People's Government to install a ProteusPLUS proton therapy system in Shenzhen, China. As announced in the half year financial update, IBA has already started to recognize revenue for this contract, in line with the applicable accounting standard. This contract, worth approximately EUR 90 million to IBA, brings the total number of proton therapy rooms sold by IBA this year to seven.

As previously announced, the proton therapy center will be installed at the Shenzhen Tumor Hospital, which is a member of the Chinese Academy of Medical Sciences (CAMS), and treatment is expected to start on patients in 2022. CAMS is a leading health network for cancer prevention and treatment in China, which is active in cancer research, comprehensive education and research-based prevention. This center will be the fifth IBA Proteus®PLUS proton therapy solution in China.

IBA signed the contract following a comprehensive public tender conducted by the Shenzhen Municipal Health Commission. The selection of IBA highlights the Company’s continued successful investment in this strategically important region, the superiority of its proton therapy solutions and its technological leadership, particularly with new developments such as Organ Motion Management, and on-going research projects on Arc Therapy and Flash irradiation. These novel techniques have the potential to change the landscape of radiotherapy and patient cancer care in the coming years.

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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).

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