Rutherford Health - £20m impact-linked loan facility London Stock Exchange
RNS Number : 2080Q
Rutherford Health PLC
17 October 2019
 

17 October 2019

Rutherford Health Plc

Rutherford Health PLC secures £20m impact-linked loan facility to drive forward proton beam therapy programme

 

 

Rutherford Health Plc ("Rutherford" or the "Company") has announced that it has secured a £20million facility ("Facility") with Triple Point Investment Management, the specialist impact investment manager.

Under the terms of the Facility, there will be phased drawdown designed to match the Company's funding requirements.

The Impact-Linked Pricing ("ILP") structure of the facility will enable Rutherford to enjoy more favourable loan terms as patient numbers increase at the company's three cancer centres in the UK which offer proton beam therapy and  a wide range of advanced cancer services.

Mike Moran, chief executive officer, Rutherford Health plc, said:

"We are delighted to have secured this forward thinking facility with Triple Point which shares our goal of widening access to the most advanced cancer treatments. Structuring a loan facility in a way that encourages accessibility to our services is a progressive approach.

"This investment will lead to the continued expansion of our services, particularly proton beam therapy. Triple Point is a proven investment manager committed to delivering social and public good and our services to patients fit extremely well into that ethos."

Steve Gordon, Programme Manager at Triple Point, said:

"Triple Point's first of its kind, Impact-Linked Pricing offering, helps align our goals with those of Rutherford Health in a virtuous circle.  Simply put, we are all incentivised to increase access to the cancer treatment centres which, in turn, will trigger more favourable loan terms, which will unlock more resource and accelerate availability even further.

"Triple Point already has extensive experience of investing in impactful technologies on behalf of the UK's public and private sector healthcare providers. We are delighted to play a small part in support of Rutherford's aims to open their world-class treatments to more people in the UK and beyond from their state of the art new facilities."

 

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 Rutherford Health plc accept responsibility for this announcement.

 

Contacts:

 

 

Rutherford Health Plc


Michael Moran, Chief Executive Officer

Tel: +44 (0) 16 3381 0661





Grant Thornton (Corporate Adviser)

Tel: +44 (0) 20 7383 5100

Colin Aaronson/ Jamie Barklem/ Niall McDonald




Media House International


Ramsay Smith

07788 414 856 or Ramsay@mediahouse.co.uk

 

 

About Rutherford Health plc

Rutherford Health Plc operates a network of Rutherford Cancer Centres which offer the latest cancer therapies including proton beam therapy. Its centre in Wales introduced proton beam therapy to the UK and treated a cancer patient with the pioneering treatment in the UK for the firsttime last year. It also has a centre in Reading whilst a centre in Liverpool is under construction. The combined centres boast a centrally networked management system which allows patients to be treated at any Rutherford centre after they have been screened.

All centres offer proton beam therapy to medically-insured private patients, self-paying patients and NHS patients where the Rutherford is commissioned to provide these services.

For more information on the Rutherford Cancer Centres, please visit: http://www.therutherford.com

Follow the Rutherford Cancer Centres on twitter: @therutherford_c

 

About Triple Point Investment Management

Triple Point creates a wealth of opportunities for investors, the businesses they partner with and the entrepreneurs that lead them.

Founded in 2004, they manage over £1.45 bn of private, institutional and public capital. Their specialist teams invest across four themes - real estate, debt, infrastructure and venture capital.

They look across industries and society to unlock value in uncommon combinations. Through their curiosity and experience, they originate differentiated investments that have consistently delivered, irrespective of market timing.

Triple Point exists to build enduring partnerships and exceptional investments that perform in the long term.

www.triplepoint.co.uk

 

 


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