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Accuray Successfully Completes Acquisition of TomoTherapy
Date:6/13/2011

with good growth prospects and enhances our opportunity to grow shareholder value," said Derek Bertocci, senior vice president, chief financial officer of Accuray. "We expect our new scale will help make revenue more predictable, and assist in making the TomoTherapy service business more efficient and ultimately profitable. Over the next 12 months we plan to make changes with the goal of achieving combined operating expense savings of $25 million in fiscal year 2013, with the majority of savings from corporate overhead and marketing."

With the closing of the transaction, Accuray's installed base increases from 226 to more than 550 Systems, installed in 32 countries. Accuray's total number of employees doubles to more than 1,000 worldwide. Corporate headquarters will remain in Sunnyvale, California, but the company will maintain a significant presence in Madison, Wisconsin, where TomoTherapy's headquarters were located. Euan Thomson will continue to serve as president and chief executive officer of Accuray.

With the closing of the transaction, TomoTherapy common stock will cease trading on NASDAQ before market open on June 13, 2011, and will no longer be listed on NASDAQ.

UBS Investment Bank served as Accuray's financial advisor on the transaction, and Gibson, Dunn & Crutcher LLP served as its legal counsel.  BofA Merrill Lynch served as financial advisor to TomoTherapy. Sidley Austin LLP served as TomoTherapy's legal counsel.

About Accuray

Accuray Incorporated (Nasdaq: ARAY), based in Sunnyvale, Calif., is the premier radiation oncology company. Accuray develops, manufactures and sells personalized, best-in-class treatment solutions that revolve around the patient. Accuray's game-changing technologies – the CyberKnife System and TomoTherapy Systems – set the standard of care with the aim of helping patients live longer, be
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SOURCE Accuray Incorporated
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