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

RaySearch Releases New Version of RayCare OIS
Technology | Oncology Information Management Systems (OIMS) | July 13, 2018
RaySearch has released RayCare 2A, the latest version of its flagship oncology information system (OIS). RayCare is...
Lack of Insurance Coverage Delaying Proton Therapy Clinical Trials
News | Proton Therapy | July 12, 2018
Randomized clinical trials are the gold standard of cancer research and can shed light on whether innovative, new...
Bruce Power Joins Forces With ITM to Supply Lutetium-177 for Cancer Therapy
News | Radiation Therapy | July 11, 2018
Canadian nuclear power company Bruce Power and German-based Isotope Technologies Garching (ITG) signed an agreement to...
MedStar Georgetown University Hospital Now Clinical With RayStation and Hyperscan
News | Treatment Planning | July 05, 2018
MedStar Georgetown University Hospital in Washington D.C., has begun patient treatments using the RayStation treatment...
Northern Centre for Cancer Care (NCCC)

Northern Centre for Cancer Care (NCCC).

Sponsored Content | Case Study | Radiation Therapy | July 05, 2018
Established in 2009, Northern Centre for Cancer Care (NCCC) is the largest center of its kind in the north of England....
Researcher Investigates Eliminating Radiation for HER2-Positive Breast Cancer
News | Radiation Therapy | July 02, 2018
Researchers at The University of Kansas Cancer Center have launched a clinical trial that eliminates radiation from the...
New Prostate Cancer Radiotherapy Technique Aims to Preserve Sexual Function
News | Radiation Therapy | June 18, 2018
A multicenter clinical trial being led by UT Southwestern physicians is testing a technique for sparing nerve bundles...
Elekta Unity High-Field MR-Linac Receives CE Mark
News | Image Guided Radiation Therapy (IGRT) | June 18, 2018
Elekta announced that its Elekta Unity magnetic resonance radiation therapy (MR/RT) system has received CE mark,...
Washington University in St. Louis Begins Clinical Treatments With ViewRay MRIdian Linac
News | Image Guided Radiation Therapy (IGRT) | June 14, 2018
June 14, 2018 — The Siteman Cancer Center at Barnes-Jewish Hospital and Washington University School of Medicine in S
Accuray TomoTherapy System Beneficial in Two Total Body Irradiation Studies
News | Radiation Therapy | June 13, 2018
Recently published data from two new studies demonstrate the benefits of Accuray’s TomoTherapy System in the delivery...
Overlay Init