Medical firm eyes China expansion

Accuray Incorporated, a Nasdaq-listed company specializing in radiation oncology, is expected to expand its presence in China by increasing communications with physicians and patients.

The company's two leading treatment solutions, CyberKnife and Tomo Therapy Systems, have installed about 700 sets at hospitals around the world.

Launched in China in 2007, Accuray's Tomo Therapy System has installed 11 sets in major hospitals in the country.

China records 3 to 4 million new tumor patients every year. With estimated 60 percent requiring radiation treatment, the demand is around 1 to 2 million patients.

Due to the restrictions imposed by the Ministry of Health that limit the license to several sets a year, the market in China is not growing as fast as expected.

But Accuray improves understanding of its treatment systems among physicians and patients by facilitating medical academic studies by setting up two training centers in China, as well as strengthening communications among patients based on the feedback of their experience, according to Kelly Londy, chief Commercial Officer of Accuray.

According to its fiscal year 2014 results, which were released on August 21, the company recorded revenue of $369.4 million, an increase of 17 percent from the fiscal year 2013. The United States market revenue was $156.2 million, an increase of nine percent and markets outside of the US posted $213 million, a growth of 24 percent.

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