31 May 2019

Proton Partners International Limited

2019 Annual Report and Accounts

Proton Partners International Limited (the "Company", or the "Group"), the holding company of a group committed to providing innovative cancer care of the highest quality, is pleased to announce today its results for the year ended 28 February, 2019.

A copy of the Annual Report and Accounts will be sent to shareholders shortly and is available on the Company's website here.

The Group's oncology centres in the UK - named the Rutherford Cancer Centres - offer a comprehensive range of cancer treatments to patients including proton beam therapy, radiotherapy, chemotherapy, imaging and ancillary wellbeing services.

Financial highlights:

  • Revenue of GBP1.5m with quarter on quarter growth
  • Investment in fixed asset additions: GBP42.7m
  • Investment resulting in in gross fixed assets: GBP141.9m
  • Equity inflow: GBP47.6m
  • Proton beam therapy revenue 53% of total revenue in South Wales centre

Operational highlights

  • First patients to be treated in the UK with high energy proton beam therapy
  • Three cancer centres operational
  • Agreements in place with major health insurance companies to refer patients
  • NHS Wales referring adult patients to South Wales centre

Rupert Lowe, chairman of Proton Partners International Limited, commented: "The last year has been a momentous one for cancer patients in the UK and it is extremely gratifying so see patients now being offered the highest quality of advanced treatment rather than having to travel abroad. As someone who had to go overseas for proton beam therapy treatment, delivering the construction of our Rutherford centres has been a major achievement with management now fully focused on providing excellent treatment to an increasing number of patients who will benefit from proton beam technology and other advanced cancer treatments."

Mike Moran, chief executive officer of Proton Partners International, commented: "In 2018, we set out the critical capability we needed to position us as the most advanced cancer network in the UK and we have made good progress, particularly with our focus on precision radiotherapy. We have treated 27 patients with proton beam therapy and demand is increasing. With three Rutherford Cancer Centres now operational and a fourth under construction we are well placed to increase patient access and choice - which is at the core of our business."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The directors of the Company accept responsibility for the content of this announcement.