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Press Release ba IBA BUSINESS UPDATE – FIRST QUARTER 2021 Louvain - La - Neuve , Belgium , 20 May 2021 - IBA ( Ion Beam Applications S.A. , EURONEXT ) , the world's leading provider of proton therapy solutions for the treatment of cancer , today announces its business update for the first quarter ending 31 March 2021 . Group Overview Strong balance sheet maintained , with EUR 152 million unaudited gross cash ( 31 Dec 2020 : EUR 151.3 million ) and EUR 72.6 million unaudited net cash ( 31 Dec 2020 : EUR 65.2 million ) Business operations have remained solid into the first quarter of 2021 , albeit with some continuing impact from COVID - 19 related installation delays in Proton Therapy alongside some Other Accelerator delays Continued focus on sustainable growth and profitability , delivering the very best offering and services to our customers , whilst remaining committed to corporate responsibility As part of a long - term employee incentive plan , IBA's share buyback program was launched in January 2021 and is almost complete Olivier Legrain , Chief Executive Officer of IBA commented : " I have been pleased to see IBA's continued resilience in the first quarter of 2021 , with growing momentum in Proton Therapy in the US , continued success in Asia and strong performance in our Dosimetry and Other Accelerators businesses . " " Our roadmap to sustainable growth and profitability is clear : capitalize on our market leading position globally , invest for strategic impact and deliver operational execution . This focus will be reinforced by our continuing commitment to our customers , our employees and to the planet and I am proud of the groundwork we are laying as a company towards a true stakeholder approach to our business . " Business Unit Highlights ( including post - period end ) Proton Therapy Strong pipeline in both the US and the Asia - Pacific region with installation of one ProteusⓇONE * system commencing in the first quarter 37 service contracts generating recurring revenues globally Down payment received for a ProteusⓇONE from the National Cancer Center ( NCC ) Korea , a repeat customer Post - period end , Advocate Radiation Oncology selected IBA's ProteusⓇONE for its new Radiation Oncology Centre . A term sheet has been signed and contract negotiations are currently ongoing Yves Jongen , IBA's founder , received the Lifetime Achievement Award from the American National Association for Proton Therapy ( NAPT ) . This prestigious title recognizes his pioneering work and his exceptional contribution , spanning over 35 years , to the innovation and clinical development of proton therapy Press release | 20 May 2021 IBA | Ion Beam Applications SA Chemin du Cyclotron , 3 | 1348 Louvain - la - Neuve | Belgium | RPM Brabant - wallon | VAT : 0428.750.985 T +32 10 47 58 11 | F +32 10 47 58 10 | info@iba-group.com | iba-worldwide.com PROTECT + ENHANCE + SAVE LIVES 1