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.
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.
Varian Medical Systems Inc. (NYSE:VAR) and IMRIS Inc. (TSX:IM) inked a co-development deal to create a magnetic-resonance-guided radiation therapy system to treat cancer.
The deal calls for the integration of Winnipeg, Manitoba-based Imris’ MR imaging technology with Palo Alto, Calif.-based Varian’s TrueBeam radiosurgery device.