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UMB sues PFA and managers of defaulted proton center
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Proton therapy equipment at an Public Finance Authority-owned Alabama facility that closed in 2023.
Processing ContentFinanced with $81.3 million of unrated tax-exempt debt in 2017, the PFA-owned proton therapy center has struggled for years.
The PFA in 2017 privately placed the bonds to finance the acquisition, construction and equipping of a radiation therapy treatment center in Delray Beach, Fla.
The ground lease only allows the project to be used for operation of a radiation therapy treatment center.
It also owns New Jersey-based ProCure Proton Therapy Center, with roughly $146 million of debt and the now-closed University of Alabama at Birmingham Proton Center, also with $81.3 million of debt.