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Cancer treatment merger: Accuray cashes in on TomoTherapy's woes

April 8, 2011 by MassDevice staff

Regulatory documents reveal how a struggling TomoTherapy ended up in the hands of Accuray Inc. for a slim 0.66 percent multiple of its 2010 revenues.

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Like so many romances, the impending $277 million marriage between Accuray Inc. (NSDQ:ARAY) and TomoTherapy Inc. (NSDQ:TOMO) began on the shores of the Mediterranean, in the beautiful city of Barcelona.

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Accuray/Tomotherapy merger: Did the fish swallow the whale?

March 30, 2011 by MassDevice staff

New details on the merger of Accuray and TomoTherapy show similar companies with very different results.

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The $300 million engagement of Accuray Inc. (NSDQ:ARAY) and TomoTherapy Inc. (NSDQ:TOMO) might be a case where the fish ate the whale.

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Judge nixes Medtronic, NuVasive motions in patent infringement case

March 28, 2011 by MassDevice staff

Medtronic, NuVasive

A federal judge in California dealt blows to both sides in a patent infringement dispute over spinal implant technology between several Medtronic Inc. (NYSE:MDT) subsidiaries and NuVasive Inc. (NSDQ:NUVA).

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Exactech rep slips prison in kickbacks scheme | Legal Roundup

March 21, 2011 by MassDevice staff

A former sales director for Exactech Inc. lands five years' probation and $56,000 in fines after pleading guilty to a kickbacks scheme with orthopedic surgeons.

MassDevice.com legal roundup

A former sales rep for Exactech Inc. avoided prison but landed five years' probation and $56,000 in fines after pleading guilty to setting up a kickbacks scheme to encourage orthopedic surgeons to use the company's hip and knee implants.

Judge Garrett Brown of the U.S. District Court for New Jersey handed down the sentence to Douglas Donofrio, the former New York-area sales director for the Gainesville, Fla.-based company. Donofrio pleaded guilty to running the scheme between 2002 and 2008.

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Former Best Medical execs escape lawsuit against Accuray

March 16, 2011 by MassDevice staff

A federal judge in Pennsylvania tosses the charges against four former Best Medical International executives, accusing them of stealing trade secrets Accuray allegedly used to develop its CyberKnife device, but lets patent infringement charges stand against Accuray.

Accuray, Best Medical

A federal judge tossed the charges against four former Best Medical International Inc. executives accusing them of stealing trade secrets, but let stand patent infringement charges against Accuray Corp. (NSDQ:ARAY).

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Accuray CEO: TomoTherapy integration starting to take shape

March 15, 2011 by MassDevice staff

Accuray CEO Euan Thomson outlines the path to integrating recently acquired TomoTherapy in an email to employees.

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Accuray Inc.'s (NSDQ:ARAY) nearly $300 million deal to buy TomoTherapy Inc. (NSDQ:TOMO) isn't closed yet, but the integration of the two companies is already underway.

Accuray CEO Euan Thomson wrote in an email to employees that the company isn't officially beginning the process until the deal closes, but the Sunnyvale, Calif.-based CyberKnife radiosurgery device maker is already taking steps to ensure a smooth transition.

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Accuray lines up $277 million TomoTherapy buyout | Acquisitions roundup

March 7, 2011 by MassDevice staff

Accuray Inc. inks an acquisition deal for radiation therapy company TomoTherapy Inc. worth $277 million.

M and A Roundup

Accuray Inc. (NSDQ:ARAY) looks set to acquire radiation treatment firm TomoTherapy Inc. (NSDQ:TOMO) in a deal worth $277 million.

The Sunnyvale, Calif.-based radiosurgery company signed an agreement to buy TomoTherapy for $4.80 per share in cash and stock, a nearly 31 percent premium over its $3.67 closing price on Friday, March 4.

The companies believe their technologies complement one another in that they can serve overlapping patient populations.

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