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Mevion Medical closes $150M investment

June 14, 2018
Courtesy
Courtesy
Mevion Medical System's S250i Proton Therapy System is lowered into a facility via crane.

Littleton imaging device company Mevion Medical Systems has closed on $150 million in financing primarily from a Chinese pharmaceutical investment firm and private equity investors.

According to Mevion's announcement on the deal, most, if not all, of the investors appear to be Chinese entities led by YuanMing Capital.

Other private equity investors include Henan Maishen Medical Technology Co., Ltd, HOPU Investments and China Everbright Limited.

The investors, new and existing, collectively manage more than $10 billion in assets, providing a strong capital base and long-term growth capital for Mevion, according to the company.

The funding will be used to advance the company's technology, namely in its HYPERSCAN pencil beam scanning technology and S250i Proton Therapy System to provide more accurate radiation treatments for cancer patients.

Mevion is looking to increase its manufacturing capabilities to meet the increasing demand for its systems and expand to emerging markets.

The HYPERSCAN system is installed and treating patients at MedStar Georgetown University Hospital in Washington, D.C. Two other locations are installing the system in the U.S. and Netherlands.

Two other undisclosed healthcare centers are in final design phases, and Mevion is looking to add units in Asia, the company said.

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