TomoTherapy Incorporated (NASDAQ: TOMO), maker of the HiArt treatment system for advanced radiation therapy, announced today that it has finalized the agreement to acquire privately held linear accelerator manufacturer Chengdu Twin Peak Accelerator Technology Inc., based in Chengdu, China.
MADISON, Wis. (Business Wire EON) November 4, 2008 -- A linear accelerator (linac) is a key component in radiation therapy systems used to create high-energy x-rays for cancer treatments. The linear accelerators designed, developed and manufactured by Twin Peak will be used to supplement TomoTherapy's existing supply source.
According to Steve Books, chief operating officer of TomoTherapy, "With the acquisition of Twin Peak, we are reducing our sole supplier risk associated with our linac supply, a critical component to the HiArt treatment system. This acquisition will also expand TomoTherapy's competency in design and manufacturing of linear accelerators which is expected to improve HiArt system reliability and positively impact margins."
Chengdu Twin Peak Accelerator Technology Inc. designs and manufactures linear accelerators for medical equipment. It is located in the provincial capital of Sichuan, China.
About TomoTherapy Incorporated
TomoTherapy Incorporated has developed, markets and sells the TomoTherapy HiArt treatment system, an advanced radiation therapy system for the treatment of a wide variety of cancers. The HiArt 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.
Statements in this release regarding future products, events, expectations, and other similar matters, including but not limited to statements using the terms "will", "is expected to", or "should" 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 to risks inherent in the development and commercialization of new technology and products, 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 this 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.
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