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News Release - September 8, 2022
GenesisCare Purchases Two Additional ViewRay MRIdian MRI-guided Radiotherapy Systems for Guildford and Birmingham Projects, Doubling United Kingdom Footprint to Four SystemsNew agreement expands access to precision radiotherapy to more cancer patients in the UK
DENVER, Sept. 8, 2022 -- (Healthcare Sales & Marketing Network) -- ViewRay, Inc. ( Nasdaq: VRAY) announced today that GenesisCare, the largest global provider of cancer services across the USA, UK, Spain and Australia, has purchased two additional MRIdian MRI-guided radiation therapy systems for installation at new-build comprehensive cancer centres in Guildford and Birmingham. These latest acquisitions will double the UK footprint to four systems, which currently includes those in Oxford and London, and will bring the total number of systems in the GenesisCare global network to six, including systems in the USA and Spain, within the next two years.
"We are passionate about partnering with companies who are driving innovation and challenging the status quo and are excited to add two further MRIdian systems to our network. This will allow us to provide even greater access to ultra-precise MRI-guided stereotactic ablative radiotherapy (SABR) across the United Kingdom," said Paul Gearing, Senior Vice President of Physician Services & Development at GenesisCare. "MR-guided adaptive SABR will be a key pillar of cancer care over the next decade and beyond, and we are proud to provide cancer patients with access to the most comprehensive and advanced treatment possible, wherever they live."
GenesisCare has more than 440 centers offering the latest treatments and technologies that have been proven to help patients achieve the best possible outcomes. For radiation therapy, that includes over 130 centers in the United States as well as 14 centers in the UK, 17 in Spain, and 40 in Australia. Every year the GenesisCare team sees more than 400,000 people globally.
"We are pleased to continue our partnership with GenesisCare, as well as taking part in honoring their commitment to challenging the status quo through the value of MRIdian SMART to patients in the UK, Spain and the USA," said Scott Drake, President and CEO of ViewRay.
The MRIdian system provides oncologists with outstanding anatomical visualization through diagnostic-quality MR images and the ability to adapt a radiation therapy plan to the targeted cancer with the patient on the table. This combination allows physicians to define tight treatment margins to avoid unnecessary radiation exposure of vulnerable organs-at-risk and healthy tissue and allows the delivery of ablative radiation doses in five or fewer treatment sessions, without relying on implanted markers. By providing real-time continuous tracking of the target and organs-at-risk, MRIdian enables automatic gating of the radiation beam if the target moves outside the user-defined margins. This allows for delivery of the prescribed dose to the target, while sparing surrounding healthy tissue and critical structures, which results in minimizing toxicities typically associated with conventional radiation therapy.
To date, nearly 25,000 patients have been treated with MRIdian. Currently, 53 MRIdian systems are installed at hospitals around the world where they are used to treat a wide variety of solid tumors and are the focus of numerous ongoing research efforts. MRIdian has been the subject of hundreds of peer-reviewed publications, scientific meeting abstracts, and presentations. For a list of treatment centers, please visit: https://viewray.com/find-mridian-mri-guided-radiation-therapy/
The opinions and clinical experiences discussed herein are specific to the featured physicians and are for information purposes only. Nothing in this material is intended to provide specific medical advice or to take the place of written law or regulations. Results of treatment presented in this press release are not indicative of typical or future results.
The MRIdian Linac System is not appropriate for all patients, including those who are not candidates for magnetic resonance imaging. Radiation treatments may cause side effects that can vary depending on the part of the body being treated. The most frequent ones are typically temporary and may include, but are not limited to, irritation to the respiratory, digestive, urinary or reproductive systems; fatigue; nausea; skin irritation; and hair loss. In some patients, side effects can be severe. Treatment sessions may vary in complexity and duration. Radiation treatment is not appropriate for all cancers. You should discuss the potential for side effects and their severity as well as the benefits of radiation and magnetic resonance imaging with your doctor to make sure radiation treatment is right for you.
ViewRay, Inc. ( Nasdaq: VRAY) designs, manufactures, and markets the MRIdianŽ MRI-Guided Radiation Therapy System. MRIdian is built upon a proprietary high-definition MR imaging system designed from the ground up to address the unique challenges and clinical workflow for advanced radiation oncology. Unlike MR systems used in diagnostic radiology, MRIdian's high-definition MR was purpose-built to address specific challenges, including beam distortion, skin toxicity, and other concerns that potentially may arise when high magnetic fields interact with radiation beams. ViewRay and MRIdian are registered trademarks of ViewRay, Inc.
This press release contains forward-looking statements within the meaning of Section 27A of the Private Securities Litigation Reform Act. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, ViewRay's financial guidance for the full year 2022, anticipated future orders, anticipated future operating and financial performance, treatment results, therapy adoption, innovation, and the performance of the MRIdian systems. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to commercialize the MRIdian Linac System, demand for ViewRay's products, the ability to convert backlog into revenue, the timing of delivery of ViewRay's products, the timing, length, and severity of the COVID-19 pandemic, including its impacts across our businesses on demand, our operations and global supply chains, disruptions in the supply or changes in costs of raw materials, labor, product components or transportation services as a result of inflation, the results and other uncertainties associated with clinical trials, the ability to raise the additional funding needed to continue to pursue ViewRay's business and product development plans, the inherent uncertainties associated with developing new products or technologies, competition in the industry in which ViewRay operates, and overall market conditions. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to ViewRay's business in general, see ViewRay's current and future reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and its Quarterly Reports on Form 10-Q, as updated periodically with the Company's other filings with the SEC. These forward-looking statements are made as of the date of this press release, and ViewRay assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
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