Emory Set to Buy Proton Cancer Center That Defaulted on Munis

Georgia ProtonCare Center Inc., a cancer treatment facility that has defaulted on its municipal bonds, is filing for Chapter 11 bankruptcy protection to “facilitate an orderly sale process” as it plans to sell its assets to Emory University.

The center said in a press release on Thursday it that had reached a deal in which the school, on behalf of Emory University Hospital Midtown, will acquire substantially all of its assets. The proposed sale is subject to better offers.

The university has agreed to purchase the assets for $110 million, according to the agreement. The center, which started treating ...