KNOXVILLE, Tenn. — Covenant Health has acquired the Provision CARES Proton Therapy Center in West Knoxville as Provision's parent works to resolve a 2020 bankruptcy.
The acquisition was valued at $45.25 million, Knox County property records indicate. The deed was signed Monday and filed in Knox County Register of Deeds Nick McBride's office Tuesday, records show.
The center will fold into Covenant Health's array of cancer services offered through the Thompson Cancer Survival Center, according to a Tuesday announcement by Covenant Health.
The center in the Dowell Springs area off Middlebrook Pike will now be called the Thompson Proton Center. The center opened in 2014.
Covenant Health is keeping proton center employees "to ensure experience, quality and continuity of care for all current and future patients," Tuesday's announcement states.
Proton therapy uses beams of protons to target specific cancer cells while sparing healthy tissue.
Based in Franklin, Tenn., Provision principal MTPC LLC filed for voluntary bankruptcy in December 2020. It operated as a tax-exempt health care provider.
It listed assets at the time of $50 million to $100 million and liabilities of $100 million to $500 million.
U.S. Bankruptcy Judge Randal S. Mashburn cleared the way Monday for an expedited sale of most of MTPC's assets.
