In August of 2009, the Nuclear Science Advisory Committee (NSAC) recommended a variable-energy, high-current multi-particle accelerator for the production of medical radioisotopes. The Oak Ridge National Laboratory is developing a technical concept for a 70 MeV dual-extraction multi-particle cyclotron that will meet the needs identified in the NSAC report. The cyclotron, which will be located at the Holifield Radioactive Ion Beam Facility (HRIBF), will operate on a 24/7 basis and will provide approximately 6000 hours per year of quality beam time for both the production R&D and production of medical and industrial radioisotopes. The proposed cyclotron will be capable of accelerating dual beams of 30 to 70 MeV H– at up to 750 µA, and up to 50 µA of 15-35 MeV D–, 35 MeV H2, and 70 MeV α-particles. In dual-extraction H– mode, a total of 750 µA of 70 MeV protons will be provided simultaneously to both HRIBF and Isotope Production Facility. The isotope facility will consist of two target stations: a 2π water-cooled station and a 4π water-cooled high-energy-beam research station. The multi-particle capability and high beam power will enable research into new regimes of accelerator-produced radioisotopes, such as 225Ac, 211At, 68Ge, and 7B. The capabilities of the accelerator will enable the measurement of excitation functions, thick target yield measurements, research in high-power-target design, and will support fundamental research in nuclear and radiochemistry.