Rutherford Health

Rutherford Health

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Developing and building a network of oncology centres across the UK.

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DateInvestorsAmountRound
investor

€0.0

round
investor

€0.0

round
N/A

€0.0

round
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£19.1m

Early VC
Total Funding000k

Financials

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Revenues, earnings & profits over time
EUR201820192020
Revenues000000000000
% growth-250 %14 %
EBITDA000000000000
% EBITDA margin(1000 %)(286 %)(375 %)
Profit000000000000
% profit margin(100 %)7 %100 %
EV000000000000
EV / revenue00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x
R&D budget000000000000

Source: Company filings or news article

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More about Rutherford Health
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Rutherford Health PLC, originally founded as Proton Partners International in 2015 by Mike Moran and Karol Sikora, was a UK-based private oncology provider. The company aimed to develop a network of advanced cancer treatment centers across the United Kingdom and internationally, specializing in high-energy proton beam therapy, radiotherapy, chemotherapy, and diagnostic imaging.

The company established several Rutherford Cancer Centres in locations including South Wales, Northumberland, Liverpool, and the Thames Valley. These centers were equipped with technology from partners like Ion Beam Applications (IBA), Philips, and Elekta. The business model focused on treating both private and NHS patients. Rutherford Health also expanded into diagnostics, launching Rutherford Diagnostics and opening a community diagnostic center in partnership with Somerset NHS Foundation Trust. Further ventures included Rutherford Innovations and Rutherford Estates, as well as an international acquisition of the Gulf International Cancer Centre.

Despite significant investment, including over £240 million in capital expenditure to build its network, the company faced considerable financial challenges. A strategy described by a major shareholder as a "flawed expansion strategy" from 2015 to 2019 resulted in a high and unsustainable cash burn. The COVID-19 pandemic further exacerbated these issues by causing a critical reduction in the number of patients presenting at its centers. Efforts to secure sufficient contracts with the NHS to increase patient flow were unsuccessful. Faced with severe financial pressures and the inability to attract new funding, Rutherford Health went into liquidation in June 2022.

Keywords: Rutherford Health, Proton Partners International, oncology provider, cancer treatment, proton therapy, radiotherapy, chemotherapy, diagnostic imaging, Mike Moran, Karol Sikora, Rutherford Cancer Centres, healthcare services, medical diagnostics, company liquidation, UK healthcare

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