Indiana University

Maryland Proton Treatment Center's restructuring reflects a bubble in health care investment

Maryland Proton Treatment Center's restructuring reflects a bubble in health care investment

The Maryland Proton Treatment Center chose “Survivor” as the theme for its grand opening in 2016, invoking the reality-TV show’s tropical sets with its own Tiki torches, palm trees and thatched booths piled with pineapples and bananas.

It was the perfect motif for a facility dedicated to fighting cancer. Jeff Probst, host of CBS’ “Survivor,” greeted guests via video from a Fiji beach.

But behind the scenes, the $200 million center’s own survival was less than certain. Insurers were hesitating to cover radiation treatment at the Baltimore facility, affiliated with the University of Maryland Medical Center. The private investors who developed the machine used for treatment had...

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