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Ion Beam Applications (IBA) Signs Final Contract With Westdeutsches Protonentherapiezentrum Essen


3/26/2014 10:31:11 AM

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Louvain-la-Neuve, Belgium, March 26, 2014 - IBA (Ion Beam Applications S.A.), the world’s leading provider of proton therapy solutions for the treatment of cancer, today announces that it has signed final contracts concluding the Essen project negotiation with the University Hospital of Essen (UK Essen).

With the signing of the contracts, the Westdeutsches Protonentherapiezentrum Essen GmbH, a subsidiary of the University Hospital of Essen, finalizes the acquisition of the proton therapy center in Essen from STRIBA Protonentherapiezentrum GmbH (STRIBA), the 50/50 joint venture between IBA and STRABAG, the contracted supplier of the center. As the transfer of the center has now been finalized, IBA no longer has exposure to any further disputes based on the old contractual structure and provisions.

In addition, a long term operations and maintenance contract has been signed between IBA and the UK Essen as well as agreed compensation for past operations and maintenance services rendered by IBA in 2013.

Further details of the contracts are not disclosed. No additional P&L effects beyond what was stated in the Company’s 2013 first half earnings release are expected in 2013 or in the 2014 IBA Full Year Financial Statements, other than recurring revenues for the service agreement.

As a subsidiary of the University Hospital of Essen, the West German Proton Therapy Center features the world’s most advanced proton therapy equipment. The center, which will comprise four treatment rooms, three gantries (isocentric rotational frames) and one fixed-beam room, offers the most advanced options for patient positioning and irradiation technologies including the latest advancements in IBA’s Pencil Beam Scanning (PBS). The center has been treating patients since May 2013.

Olivier Legrain, CEO of IBA, commented: “We are pleased that we have been able to bring this matter to a close. We look forward to a mutually beneficial collaboration with WPE over the coming years for this state of the art proton therapy center.”

For further information please contact:

IBA
Jean-Marc Bothy
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com

Thomas Ralet
Vice-President Corporate Communication
+32 10 475 890
thomas.ralet@iba-group.com

For media and investor enquiries:

Consilium Strategic Communications
Amber Bielecka, Mary-Jane Elliott, Matthew Neal, Jessica Hodgson
+44 (0)20 3709 5700
IBA@consilium-comms.com

About Proton Therapy
Proton therapy is increasingly considered the most advanced and targeted cancer treatment due to its superior dose distribution and fewer side effects. Protons deposit the majority of their effective energy within a precisely controlled range, directly within the tumour and sparing healthy surrounding tissue.

As access to proton therapy increases in Europe and across the world, IBA continues to demonstrate compassionate innovations with more patient-friendly treatment rooms and more precise therapies. IBA proton therapy systems account for more than half of the world’s clinically based proton therapy facilities. To date they include 16 operational proton therapy centers worldwide, and 10 more centers in development.

About IBA

IBA (Ion Beam Applications S.A.) is a cancer diagnostics and treatment equipment company, and the worldwide technology leader in the field of proton therapy, the most advanced form of radiotherapy available today.

The Company’s primary expertise lies in the development of next generation proton therapy technologies that provide oncology care providers with premium quality services and equipment. IBA’s proton therapy solutions are scalable and adaptable, offering universal full scale proton therapy centers as well as next generation compact, single room solutions. IBA also focuses on the development and supply of dosimetry solutions for Quality Assurance of medical equipment and increased patient safety as well as particle accelerators for medical and industrial applications.

Headquartered in Belgium and employing about 1000 people worldwide, IBA currently has installed systems across Europe and the US and is expanding into emerging markets. The Company is focused on building sustainable global growth for investors, providing solutions in the fight against cancer.

IBA is listed on the pan-European stock exchange EURONEXT. (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB) and more information can be found at: www.iba-worldwide.com

About the University Hospital of Essen
As a maximum care hospital, The University Hospital of Essen (UK Essen) is currently the largest university centred in one location in the Ruhr region and therefore “the Hospital of the metropolitan Ruhr area“. With its 1,300 beds, the hospital treats around 50,000 inpatients and 165,000 outpatients each year. The total of 5,800 experts working in the most varied disciplines in 27 clinics and 22 institutes are a guarantee for excellent, interdisciplinary diagnostics and therapy in line with state-of-the-art research. The triad of research, teaching and healthcare constitutes the overarching field of the entire work at UK Essen – while always focusing on the individual. In addition to the research field of genetic medicine, immunology and infectiology, UK Essen has also successfully concentrated for a number of years on the three priority areas of oncology, cardiovascular diseases and transplants. With the West German Tumour Centre Essen, Germany’s largest tumour centre, the West German Heart Centre Essen, which performs more than 2,000 operations per year, and the top international transplant centre, where all the vital organs, i.e. liver international, kidney, pancreas, heart and lungs, are transplanted, UK Essen has built up an outstanding position.

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