Healthcare Industry News: CT imaging
News Release - July 8, 2008
TomoTherapy Incorporated to Acquire Assets of Hi-Art Co., Ltd., of Japan
MADISON, Wis.--(HSMN NewsFeed)--TomoTherapy Incorporated (NASDAQ: TOMO ) announced today that it 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.
About TomoTherapy Incorporated
TomoTherapy Incorporated has developed, markets and sells the TomoTherapy® Hi·Art® treatment system, an advanced radiation therapy system for the treatment of a wide variety of cancers. The Hi·Art treatment system combines integrated CT imaging with conformal radiation therapy to deliver sophisticated radiation treatments with speed and precision while reducing radiation exposure to surrounding healthy tissue. The company’s stock is traded on the NASDAQ Global Select Market under the symbol TOMO. To learn more about TomoTherapy, please visit TomoTherapy.com.
Forward-Looking Statements
Statements in this release regarding future products, events, expectations and other similar matters, including but not limited to statements using the terms “will” or “can” constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements contained in this press release are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated, including but not limited to factors such as our ability to integrate acquired assets, ability to protect intellectual property, risks of interruption due to events beyond the company’s control, and the other risks listed from time to time in TomoTherapy’s filings with the U.S. Securities and Exchange Commission, which by this reference are incorporated herein. These forward-looking statements represent TomoTherapy’s judgments as of the date of this press release. TomoTherapy assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events or otherwise.
©2008 TomoTherapy Incorporated. All rights reserved. TomoTherapy, CTrue, the TomoTherapy logo and Hi·Art are among trademarks, service marks or registered trademarks of TomoTherapy Incorporated.
Source: TomoTherapy
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