Tool, Texas-based Sarif’s patent covers ""Computer-Assisted Microsurgery Methods and Equipment." The medical device company alleges that Accuray’s device trespasses on that intellectual property, according to the lawsuit.
The Sunnyvale, Calif.-based medical device company said it will use the proceeds from the offering of debt due Feb. 1, 2018, to shore up its balance sheet.
The Sunnyvale, Calif.-based company, which makes radiation oncology equipment, posted losses of $29.2 million, or 40¢ per share, on sales of $77.8 million for the 3 months ended Dec. 31, 2012. That amounts to a 180.8% increase in losses and a 26.9% top-line reduction.
Accuray made the announcement upon releasing its preliminary 2nd quarter 2013 financial results, in which the company noted a 45%-50% decline in product revenue.