20 Aug 2013 07:00
20 August 2013
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or "the Group")
Collaboration with Spire Healthcare to offer patients a new type of cancer treatment in three Spire Hospitals in the UK
Advanced Oncotherapy today announces that they have signed a letter of intent with Spire Healthcare Limited ("Spire") to bring more affordable proton radiotherapy to the UK. This agreement will enable Spire to further expand, and complement, its existing range of oncology services.
Advanced Oncotherapy's patented technology makes proton beam therapy for cancer treatment more affordable. Their state of the art proton beam machine is based on LIGHT technology - Linac Image Guided Hadron Technology - a direct medical application of high energy particle physics research by ADAM, which Advanced Oncotherapy is in the process of acquiring, at CERN (The Large Hadron Collider).
Proton radiotherapy is at the forefront of the fight against cancer, but the UK lags behind its US and European counterparts, despite the government having recently announced funding for two NHS proton radiotherapy centres in London and Manchester. Protons are established as being a much more accurate form of treatment than conventional radiotherapy, causing far fewer side effects. However, previously, machines have been prohibitively expensive.
With the new LIGHT machine at Spire hospitals, costs will be substantially cheaper, and patients benefit from easy access, convenient locations, and the ability to treat cancers more precisely. This represents a game-changing new treatment option for cancer patients in the UK, and underpins the commitment of both companies to high quality, affordable and innovative care.
Advanced Oncotherapy's CEO, Dr Mike Sinclair, said, "We have long been sure that this technology has the potential to bring the benefits of proton beam therapy to many more cancer patients than is possible currently. Our belief has been endorsed by one of the private sector's largest and most forward thinking hospital groups. We are delighted to partner with Spire Healthcare for these new exciting centres".
Rob Roger, Spire Healthcare's Chief Executive, added, "We are delighted to be working with Advanced Oncotherapy on the development of a new delivery system for proton beam therapy. This reinforces our position as a provider of affordable high quality cancer care throughout our network of hospitals".
For further information, please visit www.advancedoncotherapy.com or contact:
Michael Sinclair, Chief Executive | Sandy Jamieson | Jon Levinson/ Lucy Williams | Simon Hudson |
Advanced Oncotherapy Plc | Libertas Capital Corporate Finance Ltd | Peterhouse Corporate Finance | Tavistock Communications |
(NOMAD & Joint Broker) | (Joint Broker) | (Financial PR & IR) | |
+44 20 3617 8739 | +44 20 3697 9495 | +44 20 7469 0930 | +44 20 7920 3150 |
About Advanced Oncotherapy Plc
1. AVO is a provider of radiotherapy services that harnesses the best in modern technology. As a result, we offer cancer patients affordable access to innovative treatments with proven better health outcomes.
2. AVO's acquisition of ADAM, a company spin off from CERN (The Large Hadron Collider), focuses on the development of a proprietary radiation technology called LIGHT. This technology offers patients and providers the benefits of proton beam therapy at significantly reduced capital and running costs.
3. AVO's subsidiary company, Oncotherapy Resources Ltd, offers an exclusive mobile service for intraoperative radiotherapy (SD-IORT). This form of radiotherapy is used in a variety of cancers, notably breast cancer, and offers a convenient, safe and effective alternative for the patient. It is currently available in the UK through Spire and other hospitals.
About Spire Healthcare Limited
Spire Healthcare is one of the UK's largest private hospital providers with 38 hospitals and 11 clinics nationwide. The company is founded on a 30 year heritage of operating successful private hospitals and offers a full range of integrated surgical, medical and diagnostic services.
The company was formed from the sale of BUPA Hospitals to private equity company Cinven in 2007, followed by the purchase of Classic Hospitals and Thames Valley Hospital in 2008. Spire has since built Spire Shawfair Park Hospital (Edinburgh), the Montefiore Hospital, acquired London Fertility Centre, and Lifescan. Since Spire was formed, performance improvements have included:
· Multiple Independent Healthcare Awards: 'Medical Practice' (2012) 'Innovation' (2011), 'Risk Management' and 'Nursing Practice' (2010), 'Nursing Practice' (2009), and 'Healthcare Outcomes' (2008)
· Increase in percentage of patients rating Spire 'excellent' or 'very good' - from 87% in 2008 to 92% in 2012*
· Increase in percentage of consultant surgeons rating Spire 'excellent' or 'very good' - from 51% in 2008 to 78% in 2012*
· Increase in percentage of employees who think Spire is a 'great place to work' - from 62% in 2009 to 78% in 2012
* Rating options include 'excellent', 'very good', 'quite good', 'quite poor', 'very poor' and 'totally unacceptable'
For further information please visit: www.spirehealthcare.com.
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