TomoTherapy is committed
to Japanese market
MADISON, WI - TomoTherapy Incorporated has entered into a memorandum of understanding to acquire certain assets of Hi-Art Co., Ltd., relating to the sales and service of TomoTherapy's products in Japan. Hi-Art Co., Ltd., has distributed the TomoTherapy® Hi·Art® treatment system in Japan since 2004.
Fred Robertson, CEO of TomoTherapy, said, "As TomoTherapy grows, we continue to assess how we can best serve our customers in all markets. This move in Japan reflects our commitment to our current and future Japanese customers."
Over the next several weeks, TomoTherapy and Hi-Art Co., Ltd., will negotiate a definitive purchase agreement. The transaction is expected to close in the fourth quarter, at which time the current distribution agreement will cease.
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About TomoTherapy Incorporated
TomoTherapy Incorporated has developed, markets and sells the TomoTherapy® Hi·Art® treatment system, an advanced radiation therapy system for the treatment of a wide variety of cancers. The Hi·Art 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.
