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- Mevion Medical Systems
Mevion Medical Systems Funding, Investors & Competitors
Mevion Medical Systems has raised $464M across 4 funding rounds, most recently a $150M undisclosed-stage round in June 2018.
Last Mevion Medical Systems funding round
$150M
Undisclosed stage · Jun 2018
Cumulative funding Mevion Medical Systems raised
$464M
across 4 funding rounds
Key investors in Mevion Medical Systems
Venrock
HOPU Investment Management Company
YuanMing Capital
ProQuest Investments
Caxton Advantage Life Sciences Fund
CHL Medical Partners
China Everbright
Henan Maisheng Medical Technology
About Mevion Medical Systems
Mevion Medical Systems is a Littleton-headquartered provider of compact proton therapy systems for cancer treatment. Its MEVION S250i delivers pencil-beam scanning to tumors with sub-millimeter precision, treating sites like prostate and brain. Installed in 20 centers worldwide including MD Anderson and Mayo Clinic, the gantry-free design fits urban hospitals. Founded in 2004, Mevion holds FDA clearance and exports to Japan.
Founded
2004
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales, Subscription
Mevion Medical Systems Funding History
Mevion Medical Systems has raised a total of $464M across 4 funding rounds.
Mevion Medical Systems' first fundraising round was a $55M undisclosed-stage round in June 2013. The most recent completed round was a $150M undisclosed-stage round in June 2018.
Mevion Medical Systems funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2018 | Undisclosed stage | YuanMing Capital (lead); HOPU Investment Management Company; Henan Maisheng Medical Technology; China Everbright | $150M | Mevion Medical Systems, a leader in compact proton therapy systems for cancer treatment, closed a $150 million growth financing round on June 14, 2018, led by YuanMing Capital with participation from Henan Maisheng Medical Technology, HOPU Investment Management Company, China Everbright Limited, and existing investors. The funds were allocated to clear existing debt, optimize shareholder structure, expand manufacturing capacity, and support global market expansion, particularly in Asia Pacific, while advancing technological leadership in proton therapy via innovations like the HYPERSCAN pencil beam scanning with Adaptive Aperture proton MLC. The financing positions Mevion to meet rising demand for its MEVION S250 series systems, which feature gantry-mounted accelerators for efficient, high-throughput proton treatments at lower costs compared to traditional multi-room centers. HYPERSCAN was already treating patients at MedStar Georgetown University Hospital in Washington, D.C., with installations underway at an NCI-designated U.S. cancer center and the MAASTRO Clinic in the Netherlands. Investors collectively manage over $10 billion in assets, providing a strong capital base for long-term growth. |
| Aug 2015 | Undisclosed stage | - | $59M | Mevion Medical Systems develops the MEVION S250, a compact, single-room proton therapy system for cancer treatment, priced at $25 million per unit in the US, significantly lower than conventional multi-room proton centers. The system offers higher operational efficiency, with one installation achieving 350 patients per year per room in under three months, comparable to larger legacy systems. This funding positioned Mevion as a leader in accessible proton therapy due to its smaller footprint (2,000 sq. ft.) and lower costs, suitable for space-constrained urban hospitals. In August 2015, Mevion announced an investment agreement for up to $200 million led by HOPU Investments and YuanMing Capital, with participation from Chinese investors and US backers including Caxton Alternative Management, ProQuest Investments, Venrock, and CHL Medical Partners, aimed at accelerating worldwide expansion including a joint venture in China. An SEC S-1 filing from 2014 noted $7.6 million revenue recognized in the three months ended June 30, 2014 from the first MEVION S250 installation, with assumptions of 275 patients per room per year for customer payback in 3-4 years at Medicare rates. |
| Aug 2014 | Undisclosed stage | YuanMing Capital; Caxton Advantage Life Sciences Fund; HOPU Investment Management Company; Venrock; CHL Medical Partners; ProQuest Investments | $200M | Mevion Medical Systems develops compact proton therapy systems, notably the MEVION S250, designed for cancer treatment with a smaller footprint and lower cost compared to traditional systems. The company received FDA 510(k) clearance in 2012 and installed its first system at Siteman Cancer Center in St. Louis by late 2013. As of June 30, 2014, Mevion reported $7.6 million in revenue for the nine months ended on that date from the first system sale, and $8 million in sales for the full 12 months ended June 30, 2014. It had signed 21 system purchase contracts with a backlog over $250 million, though some were pending regulatory approvals in Asia. Around April 2014, Mevion was pursuing an IPO to raise up to $69 million, filing an S-1 in September 2014, but ultimately withdrew it. Earlier financings included $45 million in 2012 and $55 million in 2013 from overlapping investors to support manufacturing and deployment. Mevion focused on expanding manufacturing, global sales, and technology like HYPERSCAN pencil beam scanning. |
| Jun 2013 | Undisclosed stage | Caxton Advantage Life Sciences Fund; Venrock; CHL Medical Partners; ProQuest Investments | $55M | Mevion Medical Systems, a radiation therapy company developing compact single-room proton therapy systems for cancer treatment, secured $55 million in June 2013 from existing investors including Caxton Advantage Life Sciences Fund (noted as Caxton Heath Life Sciences in some reports), CHL Medical Partners, ProQuest Investments, and Venrock, plus debt from Life Sciences Alternative Funding LLC. The funding aimed to accelerate manufacturing and worldwide deployment of the Mevion S250 Proton Therapy System, the first FDA-cleared single-room system, with the initial installation at Barnes-Jewish Hospital in St. Louis undergoing commissioning for patient treatments later that year, five centers under installation, and over a dozen in planning. The Mevion S250 offers proton therapy benefits like precise, non-invasive treatment at a reduced footprint, cost, and complexity compared to conventional multi-room systems, with a U.S. list price of $25 million. This round was priced higher per share than the prior Series E financing. Investor filings noted a significant revenue backlog supporting potential valuation upside despite development delays. |
Who has invested in Mevion Medical Systems?
8 investors have backed Mevion Medical Systems across its funding rounds, including Venrock, HOPU Investment Management Company, YuanMing Capital, ProQuest Investments, Caxton Advantage Life Sciences Fund and CHL Medical Partners.
Lead investors include YuanMing Capital.
Mevion Medical Systems Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Aug 2014 | ||
| 2 | Participant | Jun 2013 | ||
| 2 | Participant | Aug 2014 | ||
| 2 | Participant | Jun 2013 | ||
| 2 | Participant | Jun 2013 | ||
| 2 | Participant | Jun 2013 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialMevion Medical Systems Competitors
Mevion Medical Systems competitors include listed companies like IDEXX Laboratories, GE HealthCare, United Imaging and Glaukos, and private ones like Dental Monitoring and AcuityMD.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $4.3B | $1.5B | $40B | 8.9x | ||
| Publicly listed | $21B | $3.7B | $29B | 1.8x | ||
| Publicly listed | $2.1B | $367M | $12B | 4.8x | ||
| Publicly listed | $507M | ($157M) | $9.5B | 14.6x | ||
| Private | $91M | - | $1B | - | ||
| Private | - | - | $955M | - |
Mevion Medical Systems Public Comps
Mevion Medical Systems is still privately-owned, but its public comps include Samsung, Johnson & Johnson, Roche, Thermo Fisher Scientific, Siemens, Abbott, Danaher, Intuitive Surgical, Medtronic and Stryker.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $243B | $67B | 4.4x | 2.4x | 15.8x | 4.4x | |||
| $94B | $40B | 7.2x | 6.8x | 17.0x | 18.3x | |||
| $77B | $26B | 5.0x | 4.9x | 14.6x | 12.4x | |||
| $45B | $11B | 6.3x | 6.0x | 26.8x | 23.6x | |||
| $91B | $15B | 3.0x | 2.9x | 18.1x | 15.7x | |||
| $44B | $12B | 4.6x | 4.2x | 17.4x | 15.8x | |||
| $25B | $6.9B | 7.0x | 6.6x | 24.8x | 21.1x | |||
| $10B | $3.6B | 13.0x | 11.6x | 36.6x | 25.7x | |||
This data is available for Pro users. Sign up to see all Mevion Medical Systems competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Mevion Medical Systems
| When was Mevion Medical Systems founded? | Mevion Medical Systems was founded in 2004. |
| Where is Mevion Medical Systems headquartered? | Mevion Medical Systems is headquartered in Boston, MA, United States. |
| Is Mevion Medical Systems publicly listed? | No, Mevion Medical Systems is a private, VC-backed company. |
| How much funding has Mevion Medical Systems raised? | Mevion Medical Systems has raised $464M across 4 funding rounds. |
| What was Mevion Medical Systems' last funding round? | Mevion Medical Systems' last funding round was a $150M undisclosed-stage round in June 2018, led by YuanMing Capital. |
| Who are Mevion Medical Systems' investors? | Mevion Medical Systems' investors include YuanMing Capital, Caxton Advantage Life Sciences Fund, HOPU Investment Management Company, Venrock, CHL Medical Partners, ProQuest Investments, Henan Maisheng Medical Technology and China Everbright. |
| Which companies are comparable to Mevion Medical Systems? | Companies comparable to Mevion Medical Systems include IDEXX Laboratories, GE HealthCare, United Imaging, Glaukos, Dental Monitoring and AcuityMD. |
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