Sagemark raises $5.5M to finance new radiation therapy center

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Sagemark has announced that M &T Credit Services and Manufacturers Traders and Trust Company have offered up to $5.5 million in an equipment lease and line of credit finance package for the development of a radiation therapy center currently under construction in Great Neck, N.Y.

The center will be owned by Premier Oncology Management of Nassau, of which Sagemark holds a 24.5 percent stake through its wholly owned subsidiary, Premier Oncology, according to the New York City-based Sagemark.

Sagemark also reported that the 5,000 square foot outpatient cancer treatment facility will feature a TomoTherapy Hi-Art system and is scheduled to open in the first quarter of 2008.