SUNNYVALE, Calif., April 30, 2014 (GLOBE NEWSWIRE) -- Accuray Incorporated (Nasdaq:ARAY) announced today that it has signed a new three-year contract with Novation on the CyberKnife® M6™ and TomoTherapy® H™ product portfolio. Novation is the largest health care supply chain expertise, analytics and contracting company that supports the more than 100,000 hospital members and affiliates of VHA, UHC, Children's Hospital Association and Provista LLC.
Under the new agreement, Accuray's precise, leading-edge technologies, delivering the full range of radiation therapy and radiosurgery treatments, are now available at excellent values for the hospital members that Novation serves.
"Novation represents about 40 percent of the hospitals in the US," said Kelly Londy, executive vice president and chief commercial officer of Accuray. "Accuray gains immediate access to new health care organizations to bring the benefits of our products to hospitals that have not been actively targeted historically."
"As part of our expanded selling efforts in the US this year, we have been focused on group purchasing organizations and strategic accounts to expand our market access," said Joshua H. Levine, president and chief executive officer of Accuray. "We are proud to be affiliated with an organization such as Novation, whose overall commitment to value creation for hospitals has set them apart in the industry. This agreement will enable us to offer the CyberKnife M6 Series and the TomoTherapy H Series to a broader range of US hospitals."
About the CyberKnife and TomoTherapy Systems
The CyberKnife M6 Series and the TomoTherapy H Series treatment solutions cover the entire spectrum of radiation therapy needs. The CyberKnife M6 Series enables precise, high-quality, high-dose distributions to be confidently delivered to the patient with extreme accuracy over a minimum number of treatments, reducing side effects and preserving patients' quality of life. The CyberKnife System is the only robotic full-body radiosurgery system available today. The TomoTherapy H Series efficiently enables physicians to customize treatment plans for the entire range of radiation therapy patients and disease types. Its innovative design enables treatment plans to be delivered with integrated, daily CT image guidance, enhancing accuracy and delivering highly precise, intensity-modulated radiation for optimal sparing of healthy tissue and critical structures.
About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply chain expertise, analytics and contracting company for more than 100,000 members and affiliates of VHA Inc., and UHC, two national health care alliances, Children's Hospital Association, an alliance of the nation's leading pediatric facilities, and Provista, LLC. Novation provides alliance members with sourcing services, as well as information and data services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 800 suppliers. Members of VHA, UHC, Children's Hospital Association and Provista used Novation contacts to purchase approximately $49 billion in 2013. Novation has earned the coveted Ethics Inside Certification from Ethisphere Institute, a leading international think tank dedicated to the research and promotion of best practices in corporate ethics and compliance. Novation was also named Ethisphere's World's Most Ethical Companies list, and is the only company in the health care industry to earn both distinctions for three consecutive years. To learn more about Novation, please follow @NovationNews.
Accuray Incorporated (Nasdaq:ARAY), is a radiation oncology company that develops, manufactures and sells precise, innovative tumor treatment solutions that set the standard of care with the aim of helping patients live longer, better lives. The company's leading-edge technologies deliver the full range of radiation therapy and radiosurgery treatments. For more information, please visit www.accuray.com.
Safe Harbor Statement
Statements made in this press release that are not statements of historical fact are forward-looking statements and are subject to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release relate, but are not limited to market access, future orders and Accuray's leadership position in radiation oncology innovation and technologies. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to the risks detailed from under the heading "Risk Factors" in Accuray's report on Form 10-K which was filed on August 29,2013, and the its reports on Form 10-Q, which were filed on November 8, 2013 and February 7, 2014.
Forward-looking statements speak only as of the date the statements are made and are based on information available to the company at the time those statements are made and/or management's good faith belief as of that time with respect to future events. Accuray assumes 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. Accordingly, investors should not put undue reliance on any forward-looking statements.
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