Bloomberg News

Ion Beam Climbs on Proton-Therapy System Order: Brussels Mover

September 07, 2012

Ion Beam Applications SA (IBAB), Europe’s largest maker of proton-therapy equipment, rose to the highest in four months in Brussels trading after announcing an order to install a cancer-treatment system in the U.S.

The shares climbed as much as 9.7 percent to 4.88 euros, the highest since May 4. The stock traded at 4.70 euros, or 5.6 percent higher, at 9:46 a.m. local time.

The order, worth about $50 million to Ion Beam, is for a joint venture in Texas between Baylor Health Care System, Texas Oncology and McKesson Specialty Health, and includes a set of three treatment rooms, Louvain-la-Neuve, Belgium-based Ion Beam said today in a statement.

“Importantly, project financing has been secured,” Jan De Kerpel, an analyst at KBC Securities in Brussels who recommends buying the stock, wrote today in a note to clients. “The timing and the size of the deal should allow investors to increase their comfort level in IBA as an investment opportunity.”

The center will be able to treat more than 1,000 people annually, with the first treatments slated for 2015, the company said.

To contact the reporter on this story: Andrew Clapham in Brussels at aclapham@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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