IBA SA : IBA and Parkway Pantai sign contract to install proton therapy system in Singapore
IBA and Parkway Pantai sign contract to install proton therapy system in Singapore
First Proteus ® ONE contract in South East Asia and 24 Proteus ® ONE now sold globally
Louvain-la-Neuve, Belgium, 30 August 2018 - IBA (Ion Beam Applications S.A., EURONEXT), the world's leading provider of proton therapy solutions for the treatment of cancer, and Parkway Pantai, one of Asia's largest integrated private healthcare groups, announce today that they have signed a contract for the installation of a compact single-room proton therapy system Proteus ® ONE* at Mount Elizabeth Novena Hospital, the flagship hospital of Parkway Pantai in Singapore. The contract is worth between EUR 35 million and 40 million (SGD 55 million to 65 million) to IBA.
The IBA Proteus ® ONE solution was selected by Parkway Pantai after a rigorous selection process. The contract includes the delivery of a Proteus ® ONE solution, IBA's latest generation Pencil Beam Scanning (PBS), isocenter volumetric imaging (Cone Beam CT) capabilities and the construction of the building which will house the proton therapy facility. The long-term operation and maintenance of the facility is part of a separate agreement. The hospital expects to treat its first proton therapy patients in 2021.
Mr Olivier Legrain, Chief Executive Officer of IBA, commented: "We are delighted to collaborate with Parkway Pantai, one of the largest integrated private healthcare groups in Asia. This collaboration further increases the reach of proton therapy around the world and demonstrates IBA's superior product offering in the market. Our Proteus ® ONE solution is a unique truly compact intensity modulated proton therapy (IMPT) system and, alongside its open gantry and track record of short installation time, is the solution of choice for an increasing number of hospitals globally. We look forward to collaborating with Parkway Pantai to provide greater access to proton therapy for cancer patients in Singapore and the South East Asia region."
Dr Tan See Leng, Group Chief Executive Officer and Managing Director of Parkway Pantai, commented: "This is the largest single investment in medical technology that Parkway Pantai has made to date. It will revolutionise the way cancer is treated in this region. This new proton therapy centre will be the first of its kind among private hospitals in South East Asia. It underscores our commitment to provide patients with the best possible treatment options. Construction of the new facility will begin in early 2019. Our patients in Singapore and the region will now have easy access to better care when the centre opens in 2021. We expect this new capability to enhance Singapore's position as a healthcare leader in the region."
About Proton therapy
Proton therapy is considered to be the most advanced form of radiotherapy in the fight against cancer. The unique dose deposition that proton therapy offers enables the tumor to be targeted more effectively than other treatments. Compared to photon radiotherapy, protons deposit almost all their energy within a controlled zone and, in the vast majority of cases, limit the amount of the dose deposited in the healthy tissue surrounding the tumor. The use of protons consequently offers the potential to reduce the secondary effects of the treatment.
* Proteus ® ONE is the brand name of Proteus ® 235
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 1,500 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
About Parkway Pantai
Parkway Pantai is one of Asia's largest integrated private healthcare groups operating in Singapore, Malaysia, India, China, Brunei and United Arab Emirates. For over 40 years, its Mount Elizabeth, Gleneagles, Pantai and Parkway brands have established themselves as the region's best known brands in private healthcare, synonymous with best-in-class patient experience and outcomes.
Leveraging its global track record for medical excellence and managing world-class hospitals, Parkway Pantai is committed to making a difference in people's lives through excellent patient care, steadily expanding its reach in markets where demand for quality care is strong and growing.
Parkway Pantai is a leading healthcare player in its home markets of Singapore, Malaysia and India and key growth markets of China and Hong Kong.
It is part of IHH Healthcare, one of the world's largest healthcare groups by market capitalisation. IHH operates more than 10,000 licensed beds across 49 hospitals in 9 countries worldwide, offering the full spectrum of integrated healthcare services from clinics to hospitals to quaternary care and a wide range of ancillary services including medical education.
For more information, please visit www.parkwaypantai.com .
About Mount Elizabeth Novena Hospital
Mount Elizabeth Novena Hospital (MNH) is a fully single-bedded tertiary care hospital designed to accommodate up to 333 beds. The modern facility located in Singapore's premier medical hub in Novena has set new benchmarks for quality healthcare since opening in July 2012. As an extension of the Mount Elizabeth Hospital at Orchard Road, MNH provides patients access to Mount Elizabeth's medical expertise, reinforcing Singapore's reputation for delivering world-class medical services to both local and foreign patients. Adopting global best practices for quality patient care and clinical outcomes, MNH caters to the continuing demand for high quality and competitively priced healthcare services in Singapore and around the world. For more information, please go to www.mountelizabeth.com.sg
For further information, please contact:
Chief Financial Officer
+32 10 475 890
Vice-President Corporate Communication
+32 10 475 890
Assistant Vice President Group Corporate Communications
+65 9170 2541
Manager Group Corporate Communications
+65 8121 8186
For media and investor enquiries:
Consilium Strategic Communications
Amber Fennell, Matthew Neal, Angela Gray
+44 (0) 20 3709 5700
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Source: IBA SA via GlobeNewswire