Mevion Medical Systems Successfully Completes Growth Financing; Well Positioned for Global Expansion
LITTLETON, Mass.--(BUSINESS WIRE)--Jun 14, 2018--Mevion Medical Systems, Inc. announced the successful closing of a $150 million financing transaction led by YuanMing Capital and other private equity investors, including Henan Maisheng Medical Technology Co., Ltd and supported by certain existing investors, including HOPU Investments and China Everbright Limited. The transaction provides growth capital, clears existing debt, and optimizes the shareholder structure. Other details of the transaction were not disclosed.
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Mevion’s HYPERSCAN Pencil Beam Scanning system is installed and treating patients at MedStar Georgetown University Hospital in Washington, D.C. (Photo: Business Wire)
The transaction brings Mevion a strong group of new and existing investors who collectively manage over $10 billion in assets, providing a solid capital base and long-term growth capital. HYPERSCAN™ pencil beam scanning already represents a breakthrough in proton therapy due to innovative new technologies like the Adaptive Aperture™ proton MLC. This additional capital funding will be used to further distance Mevion’s technological leadership in the proton therapy industry, as well as expand manufacturing capability to meet the increased interest in HYPERSCAN systems. Globally, a portion of the funding will be used to support Mevion’s expansion of the business to emerging markets.
With a mission to extend treatment options to patients around the globe, Mevion is the market leader in compact proton systems. The company is already experiencing tremendous interest in the HYPERSCAN technology throughout the United States and Europe and is now eager to bring this revolutionary pencil beam technology solution to the Asia Pacific market. The HYPERSCAN system is currently treating patients at MedStar Georgetown University Hospital in Washington, D.C. and is being installed at two more centers, one NCI-Designated Cancer Center in the US and the MAASTRO Clinic in the Netherlands. Two additional centers are in the final design phase and Mevion is in negotiation for additional units in Asia.
About Mevion Medical Systems®
Mevion Medical Systems, Inc. is a leading provider of proton therapy systems for use in radiation treatment for cancer patients. Mevion is based in Littleton, Massachusetts, with presence in Europe and China. For more information, please visit www.mevion.com.
Follow Mevion on Twitter: https://twitter.com/mevionmedical
Connect with Mevion on LinkedIn: https://www.linkedin.com/company/mevion-medical-systems
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Melanie Benton, 978-540-1551
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SOURCE: Mevion Medical Systems, Inc.
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PUB: 06/14/2018 09:00 AM/DISC: 06/14/2018 09:01 AM