California's Accuray snagged Japanese regulatory approval for a new iteration of its CyberKnife robotic full-body radiosurgery system--a market known for its robust demand for med tech products and services.
After a year of cutting jobs and refocusing its marketing efforts, medical device maker Accuray seems to be on the mend. The company reported Thursday that sales jumped 20% in its second fiscal quarter over the same period a year ago, to $93.6 million, and its net loss narrowed.
While many of the big-time medical device companies are forecasting sunny earnings for 2013, that hasn't slowed down the march to trim payroll, as companies from Accuray to Zimmer have announced thousands of layoffs since Jan. 1. Read more >>
Accuray is planning to slash its workforce by 13% in an effort to dull the blow of a second quarter it projects to come in well below expectations, and the company's shares have dropped about 20% since the Thursday night announcement.
After 10 years with devicemaker Accuray, CEO Euan Thompson is stepping down from the post, and the company has selected former Mentor CEO Joshua Levine to replace him.
Accuray is moving past its licensing agreement with Morphormics and just buying the company outright, spending $5.7 million to acquire the developer of imaging software.
With an eye on expanding the use of its oncology devices, Accuray has signed a master research and collaboration deal with the German Cancer Research Center.
Fresh off the news that Stryker ($SYK) was cutting jobs, Accuray ($ARAY) has said it also is cutting 5% of its workforce, or 51 jobs, to reduce costs following its earlier acquisition of TomoTherapy.
Accuray has agreed to buy TomoTherapy, a creator of radiation therapy solutions for cancer care, for $4.80 per share in cash and stock, or approximately $277 million. The combined company will have