Georgia ProtonCare Center Inc. (“GPCC” or “the Company”) announced today that it has entered into an asset purchase agreement with Emory University, by and on behalf of Emory University Hospital Midtown (“Emory”) to purchase substantially all of its assets plus the assumption of certain liabilities. GPCC’s main asset is a proton therapy cancer treatment center (the “Facility”) located in Midtown, Atlanta. Emory clinicians provide the day-to-day care and treatment for patients at the facility.

To ensure seamless continuation of care for patients, facilitate an orderly sale process, and maximize the value of the Company’s assets, GPCC filed a voluntary petition to commence a Chapter 11 proceeding in the United States Bankruptcy Court for the Northern District of Georgia. Emory is the “stalking horse” bidder.

The Company’s decision to file for Chapter 11 protection follows a lengthy review during which the Company explored a range of strategic options. The proposed sale will be conducted through a court-supervised process under Section 363 of the United States Bankruptcy Code. In accordance with the sale process, the Company will solicit competing bids from interested parties in an effort to achieve the highest and best value for the Company’s assets, which could lead to a competitive auction process. GPCC seeks to complete the sale process in the second quarter of 2026, with any sale subject to Court approval.

The Company has also appointed Darryl Myers from the Turnaround and Restructuring Services practice at BDO Consulting Group, LLC (“BDO”) as Chief Restructuring Officer. Mr. Myers, who has extensive experience leading financial and operational restructuring matters, noted: “GPCC’s management team and board have evaluated all of our strategic options and believe that this option is in the best interest of patients, the community, and other stakeholders. Our top priority is to ensure the uninterrupted treatment of cancer patients at the center. We are confident that Emory, if they are the ultimate acquirer, will be able to seamlessly continue serving our patients’ needs."

GPCC will continue operations as usual while it works to complete the sale process, with Emory continuing to provide patient care at the facility. To enable this, the Company has filed motions with the court seeking to ensure the continuation of normal operations during this process, including treating and caring for patients, paying employees, vendors, and other core business expenses. Upon court approval, GPCC expects to minimize the impact of the Chapter 11 process on its patients, vendors, the community, and other key stakeholders.

Subject to court approval, GPCC will fund its continued operations through the use of the cash collateral of its bondholders, and UMB Bank as bond trustee (the “Bond Trustee”) has consented to such use.

GPCC is being advised by Polsinelli PC as legal counsel, BDO as financial advisor, and SOLIC Capital as the investment banker. The Bond Trustee is being advised by Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. as legal counsel and Houlihan Lokey as investment banker.