Accuray forms strategic alliance with Siemens

Accuray (Nasdaq: ARAY), a global leader in the field of radiosurgery, today announced that it has formed a strategic alliance with Siemens. The strategic alliance is expected to extend the global sales reach for Accuray's CyberKnife® Robotic Radiosurgery System while creating a research-and-development alliance aimed at developing and commercializing innovative new technologies and products.

Under the terms of the strategic alliance Siemens will receive the right to sell Accuray's CyberKnife System globally as part of its portfolio of healthcare products in multi-product sales. Accuray will continue to sell and distribute the CyberKnife System directly and through its existing distribution network. The companies will also create a research-and-development alliance to explore potential synergies between the complementary skill sets and technological capabilities of both companies. Additionally, Siemens will purchase and incorporate elements of Accuray's technology in its linear accelerator products.

"Our strategic alliance with Siemens will expand Accuray's global footprint in radiation oncology by adding a complementary new sales channel for delivering our technology to a larger patient population while allowing Accuray to continue to focus on growing our unique and market-leading radiosurgery business," said Euan S. Thomson, Ph.D., president and chief executive officer of Accuray. "While we expect the alliance to create new sales opportunities for the CyberKnife System, we are equally excited about the potential opportunities that could emerge from our R&D relationship. We believe that the combination of radiation treatment and advanced imaging will make a significant contribution to the future of cancer care. Siemens imaging and technological expertise could create exciting opportunities for Accuray to further enhance our position as the innovator in radiosurgery treatment."

"We are pleased to offer our customers the innovative CyberKnife System through our broad distribution network. At the same time, the addition of key elements of Accuray's state-of-the-art technology will enhance our radiation oncology products. We look forward to working closely with Accuray to realize the full potential of the combination of radiation treatment and advanced imaging," said Holger Schmidt, CEO of Oncology Care Systems at Siemens Healthcare.

SOURCE Accuray Incorporated