News | July 08, 2008

TomoTherapy to Acquire Assets of Hi-Art Japan

July 9, 2008 - TomoTherapy has entered into a memorandum of understanding to acquire certain assets of Hi-Art Co. Ltd. relating to the sales and service of TomoTherapy’s products in Japan.

Hi-Art Co., Ltd., has distributed the TomoTherapy Hi·Art treatment system in Japan since 2004. Fred Robertson, CEO of TomoTherapy, said, "As TomoTherapy grows, we continue to assess how we can best serve our customers in all markets. This move in Japan reflects our commitment to our current and future Japanese customers."

Over the next several weeks, TomoTherapy and Hi-Art Co., Ltd., will negotiate a definitive purchase agreement. The transaction is expected to close in the fourth quarter, at which time the current distribution agreement will cease.

For more information: www.tomotherapy.com

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