A subsidiary of California-based Accuray (NSDQ:ARAY) has entered a joint venture with a Chinese company to manufacture and sell radiology oncology systems in China, the companies said today.
Accuray Asia Ltd. will work with Tianjin-based CNNC High Energy Equipment, a subsidiary of China Isotope and Radiation (HKSE:01763). CNNC will own 51% of the joint venture, known as CNNC Accuray (Tianjin) Medical Technology, and Accuray’s subsidiary will own the rest.
The companies’ leaders believe they will be uniquely positioned to serve the world’s largest growth market for radiation oncology systems by helping to meet critical market demand as stipulated by the Ministry of Health of the People’s Republic of China, as well as by addressing longer-term unmet needs.
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