Shares in Accuray (NSDQ:ARAY) have risen today after the medical device maker beat expectations on Wall Street with its 2nd quarter earnings results. The Sunnyvale, Calif.-based company posted losses of $4.7 million, or 6¢ per share, on sales of $100.3 million, seeing losses shrink 49.6% while sales grew 14.7% compared with the same period during the […]
Accuray Inc.
Accuray pulls the trigger on Series A convertible senior note buyback
Accuray (NSDQ:ARAY) said yesterday it made an irrevocable net share settlement election for its 3.5% Series A convertible senior notes due February 1, 2018, looking to pay cash up to $1,000 for each $1,000 principal amount of Series A notes converted alongside delivery of shares for the conversion value in excess of $1,000. The Sunnyvale, Calif.-based […]
Accuray to use $40m term loan to retire senior debt
Accuray (NSDQ:ARAY) said today that it plans to use the $40 million term loan it just took out from MidCap Financial Trust to buy back some of its senior debt notes and lower the amount of its credit revolver with MidCap. Sunnyvale, Calif.-based Accuray, which makes radiosurgery devices, said it plans to use the term loan […]
These 10 medtech companies care a lot about research
Among the world’s largest medtech companies, these 10 spent the largest portion of their budgets on research and development. So what have they produced? Every year, Medical Design & Outsourcing pulls financial regulatory filings and reaches out to major, companies in some cases to create a list of the 100 largest medical device companies in […]
Accuray wins FDA nod for iDMS data management system
Accuray (NSDQ:ARAY) said today it won FDA 510(k) clearance for its iDMS data management system designed for sharing data between the company’s treatment delivery platforms. The Sunnyvale, Calif.-based company said the iDMS system is designed to integrate data from its technology platforms, including the Radixact, TomoTherapy and CyberKnife systems, as well as the company’s Accuray Precision […]
Accuray touts study data in head-to-head between TomoTherapy and Varian’s RapidArc
Accuray (NSDQ:ARAY) today released data from a prospective study comparing its TomoTherapy intensity-modulated radiation therapy system with Varian Medical‘s (NYSE:VAR), RapidArc radiotherapy system, touting a higher survival rate for patients treated with its TomoTherapy system. Results from the study were published last month in the International Journal of Radiation Oncology – Biology – Physics. Accuray said that […]
Lumicell taps ex-Accuray COO Londy as CEO | Personnel Moves July 18, 2017
Lumicell said last week it tapped former Accuray (NSDQ:ARAY) chief operating officer Kelly Londy as its new chief exec, with founder W. Lee moving to take the role of prez & chief scientific officer. Prior to holding the COO position at Accuray, Londy has held leadership positions at GE Healthcare (NYSE:GE) and Royal Philips (NYSE:PHG), Lumicell said. “We are […]
Accuray shares slide on Q4 prelims release
Accuray (NSDQ:ARAY) saw its shares slide approximately 3% yesterday after the company released preliminary earnings for its 4th quarter and fiscal year 2017. The Sunnyvale, Calif.-based company said it expects results to fall in line with guidance it released in April, with revenue of between $111.5 and $112 million for the 4th quarter and between $382.8 […]
Zimmer Biomet prez, CEO Dvorak unexpectedly resigns | Personnel Moves, July 12, 2017
Zimmer Biomet (NYSE:ZBH) said late yesterday its prez and CEO David Dvorak has resigned from his position at the head of the company, effective immediately, to be replaced on an interim basis by senior VP and CFO Daniel Florin until a permanent successor is named. The Warsaw, Ind.-based company said it is retaining “a leading executive search […]
7 medtech stories we missed this week: May 5, 2017
From Biomerics’s $38.5 million expansion in Salt Lake City to new study results and partnerships, here are 7 medtech stories we missed this week but thought were still worth mentioning. 1. Biomerics opening new corporate HQ Biomerics announced in a May 1 press release that it is moving its corporate headquarters in Salt Lake City. The […]
Lombard Medical CEO Hubbert, CFO Kullback step down | Personnel Moves, April 28, 2017
Lombard Medical Technologies (NSDQ:EVAR) said this month that its CEO Simon Hubbert and CFO William Kullback are stepping down from their positions, with Kurt Lemvigh stepping into the CEO role. Hubbert served as CEO for 6 years after joining the company in 2010, and will be replaced by Lemvigh, who has held positions with multiple companies, including […]