Scripps Proton gets final access to $16 million of financing, roll-up

By Caroline Salls

Pittsburgh, April 5 – California Proton Treatment Center, LLC, which does business as Scripps Proton Therapy Center, received final court approval to use $16 million in new-money debtor-in-possession financing, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The financing package also includes a $16.56 million roll-up amount.

ORIX Capital Markets, LLC is the DIP financing agent.

The facility will mature three months following the first day that funds are available on an interim basis, subject to a maximum extension to Oct. 31, 2017.

Interest will accrue at a rate of Libor plus 900 basis points.

San Diego-based California Proton offers radiation therapy for cancerous tumors and some non-cancerous conditions. The company filed bankruptcy on March 1 under Chapter 11 case number 17-10477.

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