Leading radiosurgery systems maker Accuray Incorporated (ARAY) reported that 23 leading medical centers globally have deployed its coveted CyberKnife radiosurgery system and the TomoTherapy radiation therapy system, allowing personalized therapy to a broad spectrum of cancer patients.
The innovative therapy systems have been adopted by centers of all sizes across the globe including small community sites in rural regions, mid-sized regional hospitals and large academic centers. More than half of the centers installing both products are in North America including St. John Medical Center in Tulsa, Centre hospitalier de l’Universite de Montreal and Swedish Medical Center in Seattle.
Centers outside North America, which have deployed both systems include Tokyo’s Metropolitan Center and Infectious Diseases Center Komagome Hospital and Istituto Europeo di Oncologia in Italy.
While CyberKnife is an ideal therapy option for patients with early-stage or localized tumors, TomoTherapy system offers unmatched benefits for advanced-stage tumors. The milestone underscores strong demand for both the systems at the leading medical centers across the world.
Accuray is a global leader in the field of radiosurgery and provides a non-surgical treatment option for patients diagnosed with cancer. More than 200,000 people have been treated with the company’s technology globally.
Accuray’s CyberKnife system boasts of a technology that differentiates it from traditional treatments. CyberKnife, a non-invasive alternative to conventional surgery, is the first and only commercially available intelligent robotic radiosurgery system designed to treat solid tumors anywhere in the body.
The acquisition of TomoTherapy has bolstered Accuray’s foothold in the radiation oncology space. The merger marks the union of TomoTherapy’s best-in-class radiation therapies and Accuray’s popular radiosurgery systems to create a leading player in this market. Solid installations of TomoTherapy systems contributed to healthy revenues in the most recent quarter.
While Accuray is expected to benefit from the gradual recovery in hospital capital equipment spending, it remains susceptible to reimbursement uncertainties and faces stiff challenges from competitive product offerings of Varian Medical (VAR). We currently have a Neutral recommendation on Accuray.
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