Rutherford Health today announced that it has secured a £20m facility with specialist impact investment manager Triple Point Investment Management.
The company, formerly known as Proton Partners International, is building a network of proton beam therapy centres in the UK. It said the impact-linked pricing structure offered more favourable loan terms as patient numbers increase at the company’s cancer centres.
Impact-linked investments are a form of debt finance which attempt to align the measurable social or environmental impact made by an organisation with the cost of borrowing.
The metrics used will vary from investment investment, commenting on the Rutherford Health deal, a spokesperson for Triple Point told HM: ‘In the case of our exciting new agreement with Rutherford Health, we’ve linked the cost of the loan facility to the number of patients undertaking proton beam treatments at their world-class facilities.’
Rutherford Health CEO Mike Moran 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.’
Steve Gordon, programme manager at Triple Point, added: ‘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.’
Rutherford Health, which was admitted to the NEX Exchange in February, has a market cap of £408.8m and is currently building its fourth site in the UK.
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