The PFA's ownership includes a lease agreement for the land upon which the Project will be built, a development agreement governing the terms of the build-out, and a management agreement that governs the Project's operations with Proton International, LLC. Proton International has extensive experience in radiation therapy development and management.
The structure will offer Delray Medical Center, a Tenet health facility, the increased efficiency of a smaller, two room facility, which, through the issuance of PFA's tax-exempt governmental purpose bonds, brings the Project to the consumer at a more affordable cost. The Project was approved by the City of Delray Beach and will be the first proton therapy center in the Tenet Healthcare system.
PFA partnered with Loop Capital Markets as Placement Agent, Orrick, Herrington & Sutcliffe as Bond Counsel, and von Briesen & Roper as Project Counsel to structure the transaction. PFA is excited about its role in bringing enhanced access to advanced medical treatment to South Florida and to also contribute to economic development in the City of Delray Beach and surrounding communities.