July 2, 2008 - Montecito Medical Ventures (MMV) formed an alliance by purchasing two placement contracts from medical technology company Accuray, manufacturers of the CyberKnife radiosurgery system, creating a program that gives healthcare providers that are affiliated with Montecito Medical access to medical technologies through its financing program.
MMV will make a pool of investment capital for healthcare transactions available to providers interested in acquiring CyberKnife or other advanced medical technologies.
The CyberKnife Robotic Radiosurgery System is reportedly the world's only radiosurgery system that can treat tumors anywhere in the body with sub-millimeter accuracy. Using image guidance technology and computer controlled robotics, the CyberKnife System is designed to continuously track the tumor, detect its location and automatically make needed adjustments throughout the procedure. Because it is so precise, the CyberKnife system enables surgeons to be less invasive in their surgical procedures, and allows them to target tumors in any part of the body, including the head, neck, spine, lung, prostate, liver and pancreas. CyberKnife also provides an additional option for patients diagnosed with tumors believed to be inoperable, or for patients looking for an alternative to surgery.
MMV was launched in October 2007 to provide venture capital and partnership opportunities to physician groups in key markets across the country. A joint venture of the California-based Montecito Medical Investment Company, MMV targets resources where it has determined there is a need for expanded medical services, and where it has identified strong partners that have medical products or technologies that will benefit healthcare providers affiliated with MMIC. Capital investments will be targeted to real estate acquisition and development, and structured finance in medical technology.