News | June 14, 2011

Accuray Successfully Completes Acquisition of TomoTherapy

June 14, 2011 – Accuray announced that it has completed its previously announced acquisition of TomoTherapy. The combined company is focused on developing, manufacturing and selling personalized treatment solutions that revolve around the patient.

Accuray now offers radiation treatments tailored to the specific needs of each patient, ranging from high-precision radiosurgery for early-stage and localized disease to image-guided, intensity-modulated radiation therapy for more advanced disease sites throughout the body. These complementary patient populations are treated by the same medical specialty, creating a broader base of sales relationships for the company to leverage. By bringing together the expertise and complementary resources of both companies, Accuray hopes to increase its scale to invest in the R&D, leading to new innovations.

"This acquisition places Accuray in two market segments with good growth prospects and enhances our opportunity to grow shareholder value," said Derek Bertocci, senior vice president, chief financial officer of Accuray. "We expect our new scale will help make revenue more predictable, and assist in making the TomoTherapy service business more efficient and ultimately profitable. Over the next 12 months we plan to make changes with the goal of achieving combined operating expense savings of $25 million in fiscal year 2013, with the majority of savings from corporate overhead and marketing."

With the closing of the transaction, Accuray's installed base increases from 226 to more than 550 Systems, installed in 32 countries. Accuray's total number of employees doubles to more than 1,000 worldwide. Corporate headquarters will remain in Sunnyvale, Calif., but the company will maintain a significant presence in Madison, Wisconsin, where TomoTherapy's headquarters were located. Euan Thomson will continue to serve as president and chief executive officer of Accuray.

With the closing of the transaction, TomoTherapy common stock will cease trading on NASDAQ before market open on June 13, 2011, and will no longer be listed on NASDAQ.

For more information: www.accuray.com

Related Content

Varian to Showcase Latest Radiation Therapy Technologies and Software at ASTRO 2017
News | Radiation Therapy | September 19, 2017
Varian Medical Systems announced it will be demonstrating its new Halcyon platform and HyperArc high-definition...
Elekta to Highlight MOSAIQ Oncology Analytics at ASTRO Annual Meeting
News | Radiation Therapy | September 19, 2017
September 19, 2017 — Elekta will highlight its Mosaiq Oncology...
Double Targeting Ligands to Identify and Treat Prostate Cancer

The mice were imaged with small-animal PET/CT using 124I-RPS-027 (7.4 MBq [200 μCi]). Credit: JM Kelly et al., Department of Radiology, Weill Cornell Medicine, New York, NY

News | Prostate Cancer | September 14, 2017
Researchers have demonstrated a new, effective way to precisely identify and localize prostate cancer tumors while...
Clinical Trials and Cutting-Edge Radiation Oncology Research to Be Featured at ASTRO 2017
News | Radiation Therapy | September 14, 2017
The program for the 2017 Annual Meeting of the American Society for Radiation Oncology (ASTRO), Sept. 24-27 in San...
Provision Healthcare Joins RayCare Clinical Partners
News | Oncology Information Management Systems (OIMS) | September 11, 2017
Provision, located in Knoxville, Tenn., is the latest to partner with RaySearch Laboratories on the development of its...
U.K.'s NICE Supports Use of Hydrogel Spacer in Prostate Cancer Treatement
News | Patient Positioning Radiation Therapy | September 08, 2017
Augmenix Inc. announced that the National Institute for Health and Care Excellence (NICE) in the U.K. has issued...
Sponsored Content | Videos | Radiation Therapy | September 08, 2017
The new Visicoil MR is a helically-wound, flexible linear fiducial marker.
FDG-PET/CT Predicts Melanoma Patients' Response to Immune Checkpoint Inhibitor Therapy
News | PET-CT | September 07, 2017
September 7, 2017 — Advanced melanoma has a poor prognosis, but immune checkpoint inhibitor therapy can be effective
Augmenix Announces Medicare Administrative Contractor Palmetto Coverage for SpaceOAR Hydrogel
News | Patient Positioning Radiation Therapy | September 05, 2017
Augmenix Inc. announced that Palmetto GBA LLC — the Medicare Administrative Contractor (MAC) covering North Carolina,...
Penn Medicine to Host Fourth Annual Proton Therapy Training Course
News | Proton Therapy | August 30, 2017
August 30, 2017 — IBA (Ion Beam Applications S.A.) and the Department of Radiation Oncology at Penn Medicine, in part
Overlay Init