Penn Medicine and IBA Launch Joint Venture to Advance Proton Therapy and Radiation Oncology Program Development Worldwide
New expert-led services platform will help healthcare providers develop, implement, and optimize proton therapy and advanced radiation oncology programs across the full care delivery lifecycle
PHILADELPHIA, Pa., and LOUVAIN-LA-NEUVE, Belgium, 28 September 2026, 7 a.m. CEST — Penn Medicine and IBA today announced the formation of Noventra Oncology Alliance, a new joint venture designed to help healthcare providers successfully develop, implement, and optimize proton therapy and advanced radiation oncology programs. The new company will provide an integrated service offering spanning strategic and financial planning, clinical readiness, program implementation, and long-term operational performance.
The new company brings together the clinical, operational, research, and education expertise of Penn Medicine with IBA's global leadership in proton therapy technology, project development, and implementation capabilities. The joint venture will provide integrated advisory and lifecycle support services that help healthcare organizations navigate the complexities of developing and sustaining successful proton therapy programs.
As proton therapy becomes an increasingly important component of comprehensive cancer care, health systems around the world are seeking to expand access while ensuring clinical excellence and financial sustainability. However, developing and operating a successful proton therapy program requires more than equipment acquisition. Organizations must address challenges related to strategic planning, capital investment, reimbursement, workforce development, clinical readiness, operational performance, research infrastructure, and long-term program growth.
"By combining Penn Medicine’s decades of experience building and operating one of the world’s leading proton therapy programs with IBA’s expertise in proton therapy technology and implementation, we are creating a unique platform to help healthcare organizations deliver exceptional care to patients while building sustainable, high-performing oncology programs," said James Metz, MD, chair of Radiation Oncology at the University of Pennsylvania Perelman School of Medicine.
"A center that is unable to treat patients at scale or operate sustainably ultimately falls short of its purpose. By bringing together IBA’s global expertise in proton therapy technology and project implementation with Penn Medicine’s clinical and operational leadership, Noventra Oncology Alliance helps organizations reduce the clinical, operational, and financial risks associated with developing advanced radiation oncology programs. It will also be key to reinforcing the value of this technology in cancer treatment and accelerating its broader adoption" added Henri de Romrée, Deputy CEO of IBA.
Unlike traditional advisory models, the joint venture combines the perspectives of a world-leading clinical operator and the global leader in proton therapy technology, creating a single partner that can support organizations from initial strategy through long-term operational excellence.
Visit Noventra’s website or IBA’s booth (#843) and Penn Medicine’s booth (#1722) during the ASTRO Annual Meeting 2026 in Boston to learn more about Noventra’s services.
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About Penn Medicine
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, excellence in patient care, and community service. The organization consists of the University of Pennsylvania Health System and Penn’s Raymond and Ruth Perelman School of Medicine, founded in 1765 as the nation’s first medical school.
The Perelman School of Medicine is consistently among the nation's top recipients of funding from the National Institutes of Health, with $550 million awarded in the 2022 fiscal year. Home to a proud history of “firsts” in medicine, Penn Medicine teams have pioneered discoveries and innovations that have shaped modern medicine, including recent breakthroughs such as CAR T cell therapy for cancer and the mRNA technology used in COVID-19 vaccines.
The University of Pennsylvania Health System’s patient care facilities stretch from the Susquehanna River in Pennsylvania to the New Jersey shore. These include the Hospital of the University of Pennsylvania, Penn Presbyterian Medical Center, Chester County Hospital, Lancaster General Health, Penn Medicine Princeton Health, and Pennsylvania Hospital—the nation’s first hospital, founded in 1751. Additional facilities and enterprises include Good Shepherd Penn Partners, Penn Medicine at Home, Lancaster Behavioral Health Hospital, and Princeton House Behavioral Health, among others.
Penn Medicine is an $11.1 billion enterprise powered by more than 49,000 talented faculty and staff.
About IBA
IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the fields of proton therapy, considered as one of the most advanced forms of radiation therapy available today, as well as industrial sterilization, radiopharmaceuticals and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 2,300 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.
IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB). More information can be found at: www.iba-worldwide.com
CONTACTS
Thomas Pevenage
Investor relations
+32 10 475 890
investorrelations@iba-group.com
Nathalie van Ypersele
Head of Communication and Sustainability
Daniel Ernult
Corporate Communication Manager
+32 10 475 890
communication@iba-group.com
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