IBA and Apollo Hospitals sign a term sheet for one Proteus®ONE system plus a second one in option to be installed in India

04 Mar 2025 11:16 CET

Issuer

ION BEAM APPLICATIONS S.A.

Louvain-La-Neuve, Belgium, March 04, 2025 – IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology and leading provider of proton therapy solutions for the treatment of cancer, today announces it has signed a term sheet with Apollo Hospitals Enterprise Limited (AHEL) for the supply of one Proteus^®ONE¹ compact proton therapy solution plus a second one in option. Apollo will therefore expand access to proton therapy in India. The term sheet was signed in the presence of Her Royal Highness Princess Astrid of Belgium.

These systems expand upon the existing collaboration between the two partners, with AHEL having previously selected an IBA Proteus^®PLUS¹ system in 2013 and introduced the first proton beam therapy in India. AHEL expects to start treating patients with the Proteus^®ONE systems by 2028.

Proteus^®ONE is the market leading compact proton therapy system, which is upgradable over time to continue providing the latest technology to IBA users. The systems will include DynamicARC^®² beam delivery capabilities when regulatory clearance is granted.

The typical end-user price for a Proteus^®ONE system with a multi-year maintenance contract ranges between EUR 35 and 45 million.

Olivier Legrain, Chief Executive Officer of IBA, commented: “These contracts expand upon the close relationship we have built for more than a decade with Apollo Hospitals. Having an existing customer reaffirm their confidence in our solutions demonstrates not only the reliability and superiority of the IBA portfolio but also highlights the level of excellence of the services we deliver. We look forward to further strengthening our relationship with Apollo as we enable more patients in India to gain access to this life-saving treatment modality.”

Dr. Prathap C Reddy, Founder and Chairman of Apollo Hospitals Enterprise Ltd, added: “Our relentless pursuit of excellence in healthcare drives us to bring the most advanced medical technologies to India. In 2019, Apollo commissioned the first proton therapy system in India and till date we have treated over 2000 patients from over 147 countries. We are excited to partner with IBA again as we expand our proton therapy treatment capacity. The addition of Proteus^®ONE further cements our position as a global leader in proton beam therapy treatments, enabling us to deliver superior clinical outcomes and improve the quality of life for cancer patients in India and worldwide.”

About IBA

IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the fields of proton therapy, considered to be the most advanced form of radiation therapy available today, industrial sterilization, radiopharmaceuticals, and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 2,000 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.

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

About Apollo Hospitals Entreprise Limited
Apollo Hospitals Enterprise Ltd (AHEL) revolutionised healthcare when Dr. Prathap C. Reddy opened the first hospital in Chennai in 1983. Today, AHEL is India’s largest integrated healthcare platform with over 10,000 beds across 73 hospitals, over 6000 pharmacies and over 200 clinics and diagnostic centres, as well as 150 telemedicine centres. It is the world’s leading Cardiac Centre with over 200,000 surgeries and the world’s largest private cancer care provider. Apollo continues to invest in research to bring the most cutting-edge technologies, equipment and treatment protocols to ensure patients have the best available care in the world. Apollo’s 100,000 family members are dedicated to bringing the best care making a better world.

CONTACTS

IBA
Olivier Lechien
Corporate Communication Director
+32 10 475 890
communication@iba-group.com

ICR Healthcare
Amber Fennell, Angela Gray, Lucy Featherstone
+44 (0) 20 3709 5700
IBA@icrhealthcare.com

¹ Proteus^®ONE and Proteus^®PLUS are the brand names of Proteus^®235.

² DynamicARC® is a registered brand of the IBA’s Proton Arc therapy solution currently under development phase.

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