Proton Treatment Centers Get $87 Million in Bankruptcy Auction

A Tennessee-based proton cancer treatment center operator and its affiliates plan to sell nearly all of their assets for about $87 million following court-approved bankruptcy auctions.

MTPC and its affiliates—the Proton Therapy Center and PCPT Hamlin LLC—held the auctions Nov. 30 and Dec. 1.

Covenant Health, a regional hospital operator, will pay $45.25 million for the assets of the Proton Therapy Center, which does business as Provision CARES Proton Therapy Knoxville, according to a notice filed Wednesday.

Provision Trust, a nonprofit foundation, plans to pay $15.5 million for PCPT Hamlin and $26.5 million for MTPC. The foundation also agreed to ...