SUNNYVALE, Calif., March 24 Accuray Incorporated (Nasdaq: ARAY), a global leader in the field of radiosurgery, announced today that the company has established a direct sales presence in India. The recently established sales, marketing and service organization demonstrates the company's focus on this burgeoning market and expanding patient access to CyberKnife radiosurgery.
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India, the second most populous nation in the world, has a rapidly aging population with life expectancy rates that have increased to almost 70 years as of 2009. More than 850,000 new cancer cases are diagnosed every year and it is estimated that healthcare expenditures will increase from the current 7 percent to 13 percent in the next 10 years.
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Presently there are two CyberKnife Systems installed in India; the first at Apollo Specialty Hospital in Chenai, which went live in March 2009, and the second at Health Care Global (HCG) in Bangalore, which went live in June 2009. While these systems were sold through an external distribution channel, the recently established internal organization will enable local Accuray personnel to sell directly within the country and to offer the highest quality service to its CyberKnife users.
"We recognize the needs of this important market and have chosen to make a special investment in dedicated local resources to increase the availability of innovative cancer care for its people," said Euan S. Thomson Ph.D., Accuray's president and chief executive officer. "This significant step illustrates our commitment to global patient access to the precision and benefits of CyberKnife radiosurgery in India and beyond."
"The CyberKnife offers patients a non-surgical treatment alternative, which is imperative for our large elderly population, of whom many are not candidates for other forms of therapy," said B. S. Ajai Kumar, M.D., Director CyberKnife Center and Chairman HCG, Bangalore. "We are glad to be able to offer them a treatment option that can aggressively treat their disease without the rigors of surgery or the time commitment of traditional radiation."
"We are pleased to be able to offer CyberKnife radiosurgery to the millions of cancer patients throughout India," said P. Mahadev, M.D., DMRT, Senior Consultant Radiation Oncology, Apollo Specialty Cancer Hospital, Chennai. "Our patients benefit from the CyberKnife System's precision in targeting the tumor and not the nearby healthy tissue."
About the CyberKnife® Robotic Radiosurgery System
The CyberKnife Robotic Radiosurgery System is the world's only robotic radiosurgery system designed to treat tumors anywhere in the body non-invasively. Using continual image guidance technology and computer controlled robotic mobility, the CyberKnife System automatically tracks, detects and corrects for tumor and patient movement in real-time throughout the treatment. This enables the CyberKnife System to deliver high-dose radiation with pinpoint precision, which minimizes damage to surrounding healthy tissue and eliminates the need for invasive head or body stabilization frames.
About Accuray
Accuray Incorporated (Nasdaq: ARAY), based in Sunnyvale, Calif., is a global leader in the field of radiosurgery dedicated to providing an improved quality of life and a non-surgical treatment option for those diagnosed with cancer. Accuray develops and markets the CyberKnife Robotic Radiosurgery System, which extends the benefits of radiosurgery to include extracranial tumors, including those in the spine, lung, prostate, liver and pancreas. To date, the CyberKnife System has been used to treat more than 80,000 patients worldwide and currently more than 190 systems have been installed in leading hospitals in the Americas, Europe and Asia. For more information, please visit www.accuray.com.
Safe Harbor Statement
The foregoing may contain certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with the medical device industry. Except for the historical information contained herein, the matters set forth in this press release, including statements relating to market need, clinical applications, and clinical outcomes are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date the statements are made and are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events. You should not put undue reliance on any forward-looking statements. Important factors that could cause actual performance and results to differ materially from the forward-looking statements we make include: market acceptance of products; competing products, the combination of our products with complementary technology; and other risks detailed from time to time under the heading "Risk Factors" in our report on Form 10-K for the 2009 fiscal year, our quarterly report on Form 10-Q filed on February 4, 2010 and our other filings with the Securities and Exchange Commission. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors. We assume no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws.
SOURCE Accuray
