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5 September 20182 minute read

DLA Piper advises Maryland Proton Treatment Center in US$277.4 million tax-exempt municipal bond financing

DLA Piper represented Maryland Proton Therapy Center (MPTC) in its US$277.4 million tax-exempt municipal bond financing. The financing allows MPTC, a proton cancer treatment center, to restructure its debt obligations. The treatment center, located in the Maryland BioPark in downtown Baltimore, provides state-of-the-art therapy to cancer patients; its increasing patient volumes have reached over 100 patients a day.

The Public Finance Authority (PFA) of Wisconsin, a governmental entity with extensive experience in the healthcare industry and proton therapy, has issued US$277.4 million through the tax-free bond sale to finance the deal for Maryland Proton Treatment Center's assets.

For patients and affiliates of MPTC in Baltimore, nothing will change as a consequence of the transaction. Under a long-term facility operating agreement, MPTC's executives, medical experts from the University of Maryland School of Medicine, University of Maryland Medical Center staff and partnering health systems and practices will continue to operate the center and deliver top-quality care to patients.

The DLA Piper team representing Maryland Proton Therapy Center was led by partner Matthew Gorra and associate Matt Huddle (both Baltimore), and included partners Kristin Franceschi, Kevin Kobbe (both Baltimore), Nathaniel McKitterick (Silicon Valley), and Christina Houston (Wilmington); of counsel Lucien White (New York); and associate Russell Sass (Miami).

DLA Piper's healthcare, life sciences and technology sector attorneys provide advice to private and public companies, investors, owners and entrepreneurs. Last year, according to Mergermarket's league tables for legal advisors, DLA Piper again earned the top ranking globally for overall deal volume and ranked first for technology M&A in the US. DLA Piper was highly ranked in other notable league tables for 2017, including placing in the top five of each M&A, venture capital and private equity category recognized by PitchBook – the only law firm to do so.