SUNNYVALE, Calif., Jan. 10, 2012 /PRNewswire/ -- Accuray Incorporated (Nasdaq: ARAY), the premier radiation oncology company, announced today significant momentum in global adoption of its CyberKnife® Robotic Radiosurgery System and TomoTherapy® System, solidifying the company's footprint in the large and growing radiation oncology market. This, along with the company's short- and long-term growth strategy, was presented yesterday by Accuray President and Chief Executive Officer Euan Thomson, Ph.D. as part of the 30th Annual J.P. Morgan Healthcare Conference in San Francisco.
Accuray has taken its installed base from zero to over 600 commercially released systems in approximately 10 years. That momentum has continued in the U.S. and internationally as a result of growing demand for effective and efficient radiation oncology treatments in emerging growth markets, and as the growing body of clinical evidence mounts supporting the unique advantages of the company's image-guided radiosurgery and IMRT technologies. Additionally as Accuray's earliest CyberKnife and TomoTherapy Systems reach the end of their life cycle, new opportunities emerge for organic replacement business, along with the opportunity to capture the replacement market for older, pre-existing linacs at centers that desire newer, state-of-the-art capabilities. As the installed base grows, so does Accuray's recurring revenue streams through service contracts, which together represent continued momentum and a proven track record of year over year growth.
"Through the acquisition of TomoTherapy, Accuray is well positioned with two cutting edge and complementary technologies in a growing radiation oncology market," said Raj Denhoy, managing director, equity research at Jefferies & Co. "With an established and growing installed customer base, we anticipate continued good growth driven by both competitive wins as well as replacements."
By bringing together the two premier radiation oncology technologies focused on personalized patient care, Accuray has seen growing interest in both the TomoTherapy and CyberKnife technologies. The company's installations currently span 33 countries.
"Accuray is committed to advancing our product lines to meet the ever-changing needs of our customer base, as well as the patients fighting cancer," said Euan S. Thomson, Ph.D., president and CEO of Accuray. "The proven advantages of Accuray's treatment systems are behind the growing global adoption of both the CyberKnife and TomoTherapy systems by new as well as existing customers. Our proven track record solidifies Accuray's position in the growing radiation oncology market."
About Accuray
Accuray Incorporated (Nasdaq: ARAY), based in Sunnyvale, Calif., is the premier radiation oncology company that develops, manufactures and sells personalized innovative treatment solutions that set the standard of care, with the aim of helping patients live longer, better lives. The Company's leading edge technologies – the CyberKnife and TomoTherapy Systems – are designed to deliver radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy, and adaptive radiation therapy. To date, more than 200,000 patients worldwide have been treated using the Company's technologies and more than 600 systems have been installed in leading hospitals around the world. For more information, please visit www.accuray.com.
Safe Harbor Statement
The foregoing may contain certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with the medical device industry. Except for the historical information contained herein, the matters set forth in this press release, including statements relating to growth strategy, clinical evidence, clinical value, recurring revenue, growth rate and market growth are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date the statements are made and are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events. You should not put undue reliance on any forward-looking statements. Important factors that could cause actual performance and results to differ materially from the forward-looking statements we make include: market acceptance of products, clinical effectiveness, revenue streams, market growth and other risks detailed from time to time under the heading "Risk Factors" in our report on Form 10-K for our 2011 fiscal year, our form 10-Q filed on November 8, 2011 and our other filings with the Securities and Exchange Commission. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors. We assume no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws.
SOURCE Accuray Incorporated
Rebecca Phillips, Public Relations Manager, Accuray, +1-408-716-4773, rphillips@accuray.com, or Helen Shik, Schwartz MSL, +1-781-684-0770, Accuray@schwartzmsl.com
