Erlanger Medical Center officials plan to ask for a certificate of need for a Cyberknife Center for advanced cancer treatment.
Officials said, if approved, Erlanger will be the only health care facility within a 100-mile radius to offer such treatment.
Cyberknife "elevates the standard of care by introducing targeted radiosurgery to anywhere in the body with sub-millimeter accuracy often providing treatment opportunities that would not have been otherwise available to formerly untreatable patients," it was stated.
It also brings a reduction in time in treatment time and costs, officials said.
There are similar centers in Nashville, Knoxville and Kennesaw, Ga.
The plan is for Erlanger to enter into a joint agreement with Cyberknife with the medical center having a 51 percent joint ownership in profits and loss.
Initial investment is $1.2 million with Erlanger's share at $612,000.
Total cost of the Cyberknife equipment is $6 million.
It would be placed in the Miller Eye Center.
Officials said Erlanger currently holds second place in current market share for cancer care services.
Erlanger expects a positive return on investment in year five of the operation.