OTS to market and disribute RaySearch's RayStation in South Korea

RaySearch Laboratories AB (STO:RAYB) has entered into an exclusive distribution agreement with the South Korean distributor Oncology Total Solution Co. (OTS), based in Seoul. The agreement means that OTS will be fully responsible for marketing, sales and service for RaySearch's proprietary treatment planning system RayStation® on the South Korean market.

RaySearch already markets RayStation® on the European and US markets. This new distribution agreement marks the starting point in the build-up of the Asian sales and marketing function. In Asia, RaySearch will use local distributors in all the key markets so this agreement will be followed by other distribution agreements for other Asian markets. South Korea is one of the largest radiation therapy markets in Asia with approximately 80 radiation therapy clinics and the technology level is generally high with a long tradition of utilizing more advanced techniques such as IMRT. RayStation® is pending regulatory clearance in South Korea and the process is expected to be finalized in 2012.

OTS has approximately 15 employees and is a leading distributor of radiation therapy equipment in South Korea. The company represents a wide range of international radiation therapy equipment suppliers and has been active for eight years. They are highly experienced in treatment planning systems in particular and have been very successful in building up a large treatment planning user base in South Korea.

"OTS has a very strong track record in our field so we are excited that they have selected to work with us exclusively within treatment planning. Asia represents a huge opportunity for RaySearch so I am very pleased that we now have started the build-up in this region. We are working hard to finalize distribution agreements in other Asian markets so our coverage is set to grow rapidly", says Johan Löf, CEO of RaySearch.

"RaySearch has a very deep expertise in advanced treatment planning solutions and RayStation® has a number of unique advanced features both for photon and proton therapy and a modern user-friendly interface. The system represents a quantum leap in treatment planning and we are confident that the system will be highly appreciated by the South Korean clinics", says H W Jang, CEO of OTS.