Providence Swedish Radiosurgery Center in Seattle Invests in Second Accuray CyberKnife® System, a Robotic Delivery Device That Makes Extremely Precise Radiation Treatments Possible in 1-5 Sessions
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Insights
The acquisition of the CyberKnife® S7™ System by the Providence Swedish Radiosurgery Center represents a significant advancement in cancer treatment technology. The system's ability to deliver precise radiation therapy with sub-millimeter accuracy is a leap forward in the field of stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT). This precision is particularly beneficial for patients, as it allows for the targeting of tumors with minimal impact on surrounding healthy tissue, potentially reducing side effects and improving patient quality of life post-treatment.
From a medical research perspective, the introduction of artificial intelligence (AI) to track and adapt to tumor or patient movement is a noteworthy development. This feature could lead to more effective treatments by ensuring that radiation is delivered to the correct location even as patients move, which is a common challenge in radiation therapy. Additionally, the system's reported treatment speed could increase patient throughput, allowing the facility to treat more patients in a given time frame, which is crucial for large cancer treatment centers dealing with high patient volumes.
The strategic decision by the Providence Swedish Radiosurgery Center to invest in a second CyberKnife system underscores the growing demand for advanced radiation therapy solutions in cancer care. This investment is indicative of a broader industry trend where healthcare providers are increasingly adopting cutting-edge technologies to enhance treatment capabilities and patient outcomes. For Accuray Incorporated, this sale could strengthen its market position and serve as a testament to the reliability and effectiveness of its products, potentially influencing other institutions to consider similar upgrades.
From an industry standpoint, this development may signal a competitive edge for Accuray in the radiation therapy market and could have a positive impact on the company's financial performance. The success of the CyberKnife S7 System in clinical settings, particularly in large-scale, multi-center clinical trials, can serve as a robust marketing tool and could lead to an increase in sales and market share for Accuray, ultimately affecting its stock valuation.
The announcement by Accuray Incorporated regarding the sale of its latest generation CyberKnife® S7™ System to a major cancer facility could be seen as a positive indicator for investors, suggesting potential growth in revenue streams. This sale not only represents immediate revenue but also the possibility of long-term service contracts and future upgrades. As hospitals and cancer centers continue to modernize their equipment, companies like Accuray that are at the forefront of technological innovation may see an uptick in sales.
Investors will likely monitor the adoption rate of the CyberKnife S7 System closely, as it could influence Accuray's future earnings and market share. The company's ability to secure repeat business from established medical facilities like the Providence Swedish Radiosurgery Center also speaks to customer satisfaction and brand loyalty, which are important factors in evaluating a company's long-term financial health and stock performance.
New System Will Play a Key Role in Delivering Radiation Treatments in One of the Largest Cancer Facilities in
"The Providence Swedish Radiosurgery Center began using their first CyberKnife System more than 10 years ago. Since then, we've built a valuable partnership based on our mutual goal to transform the cancer patient experience with technologies that improve patient comfort during treatment and extend both survivorship and quality of life post-treatment," said Suzanne Winter, President and CEO of Accuray. "I couldn't be prouder that the Providence Swedish Radiosurgery team is continuing to invest in Accuray technologies. It signifies their confidence in our company, our people and our products."
The CyberKnife S7 System is a non-invasive radiation therapy device that was built from the ground-up to provide clinicians with the speed they need for operational efficiency without sacrificing the precision and accuracy required for stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT). The system uses artificial intelligence (AI) to track and automatically adapt for tumor or patient movement during treatment, delivering the radiation dose directly to the target with sub-millimeter precision - in as little as 15 minutes.
"At Providence Swedish Radiosurgery Center, we recognize that treatment decisions significantly impact patients' immediate health and long term quality of life. Our top priority is to provide excellent care for each person who walks through our door, leveraging the latest innovations in radiation therapy technologies and techniques to improve patient outcomes," said Dr. Christopher Loiselle, Executive Medical Director, Providence Swedish Radiosurgery Center and President of the Tumor Institute Radiation Oncology Group. "We have had a successful experience with the CyberKnife System and a positive relationship with the Accuray team. We purchased the CyberKnife S7 device because we are confident the system will further our ability to meet our patient-centered treatment goals."
The Providence Swedish Radiosurgery Center team has made significant contributions to the field of radiation medicine including leading the first large, multi-center clinical trial with long-term follow-up evaluating the use of SBRT in prostate cancer delivered by the CyberKnife System. They also are actively involved in research assessing the use of SBRT to treat tumors in other areas of the body and radiosurgery in the treatment of cancer and medical conditions in the brain.
Important Safety Information
For Important Safety Information please refer to https://www.accuray.com/safety-statement.
About Accuray
Accuray is committed to expanding the powerful potential of radiation therapy to improve as many lives as possible. We invent unique, market-changing solutions that are designed to deliver radiation treatments for even the most complex cases—while making commonly treatable cases even easier—to meet the full spectrum of patient needs. We are dedicated to continuous innovation in radiation therapy for oncology, neuro-radiosurgery, and beyond, as we partner with clinicians and administrators, empowering them to help patients get back to their lives, faster. Accuray is headquartered in
Safe Harbor Statement
Statements made in this press release that are not statements of historical fact are forward-looking statements and are subject to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release relate, but are not limited to, expectations regarding the company's goals and partnerships with customers; expectations regarding future purchases by customers; the ability of the company's products to meet the goals of its customers; patient experiences and patient outcomes. If any of these risks or uncertainties materialize, or if any of the company's assumptions prove incorrect, actual results could differ materially from the results expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to achieve widespread market acceptance of its products, including new product innovations and releases; the company's ability to develop new products or improve existing products to meet customers' needs; the company's ability to anticipate or keep pace with changes in the marketplace; and the direction of technological innovation and customer demands and such other risks identified under the heading "Risk Factors" in the company's Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (the "SEC") on November 7, 2023, and as updated periodically with the company's other filings with the SEC.
Forward-looking statements speak only as of the date the statements are made and are based on information available to the company at the time those statements are made and/or management's good faith belief as of that time with respect to future events. The company assumes no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. Accordingly, investors should not put undue reliance on any forward-looking statements.
Media Contact:
Beth Kaplan
Public Relations Director, Accuray
+1 (408) 789-4426
bkaplan@accuray.com
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SOURCE Accuray Incorporated
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