Bankruptcy judge approves ProCure sale - OKC, OK
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Max and 99
N 35° 36.630 W 097° 37.345
14S E 624769 N 3941622
Procure Proton Therapy Center in OKC faced an uncertain future because of the difficulty getting insurance companies to pay for the procedures.
Waymark Code: WM103KZ
Location: Oklahoma, United States
Date Posted: 02/19/2019
Views: 1
ProCure is located at the NW corner of MacArthur Blvd. and Memorial Rd. As Proton Therapy centers around the nation face this same struggle, patients and doctors are frustrated.
Article text:
A federal bankruptcy judge approved the sale of ProCure late Thursday, despite objections by the losing bidder and doctors at the cancer treatment center.
The final details of the sale were not available, but the initial bid by David Raubach's Oklahoma Proton Center LLC included more than $17.3 million in cash to take on the struggling business.
ProCure faced financial uncertainty primarily because insurance companies often refused to pay for proton therapy, which is a different type of radiation treatment for cancer patients. Instead of using X-rays that pass through the body, hitting both sick and healthy tissue, ProCure and other proton therapy centers are able to target cancerous masses and limit a person's radiation exposure.
Raubach confirmed the judge's ruling on Friday; a final order was not yet available on the court's website. After the sale is closed, Raubach and two partners will manage the Oklahoma City facility. The plan is to keep it open and begin taking new patients in early 2019.
Until then, Raubach said he plans to replace the machines with even more precise equipment that uses a method known as pencil-beam scanning.
"The most important thing for us is really that we view this facility as an important community resource," he previously told The Oklahoman. "We really wanted to put together a plan to keep the facility open and operational, keep the staff employed, and we believe that we've done that."
The physicians group that includes nine doctors at ProCure objected to the sale and criticized the proposed business plan.
Type of publication: Internet Only
When was the article reported?: 12/28/2018
Publication: News OK
Article Url: [Web Link]
Is Registration Required?: no
How widespread was the article reported?: regional
News Category: Health/Medicine
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