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TomoTherapy to acquire assets of Japanese distributor
Madison-based TomoTherapy announced Tuesday that it has entered into a memorandum of understanding to acquire certain assets of Hi-Art Co. Ltd., relating to the sales and service of TomoTherapy's products in Japan. Terms were not disclosed.
Hi-Art Co. Ltd., has distributed the TomoTherapy Hi-Art image-guided radiation treatment system in Japan since 2004.
TomoTherapy said in a news release that over the next several weeks, the two companies will negotiate a definitive purchase agreement. The transaction is expected to close in the fourth quarter, at which time the current distribution agreement will cease.
"As TomoTherapy grows, we continue to assess how we can best serve our customers in all markets," TomoTherapy CEO Fred Robertson said in a statement. "This move in Japan reflects our commitment to our current and future Japanese customers."
David Sandell/The Capital Times
TomoTherapy announced Tuesday it will acquire assets of a Japanese company that distributes in its country the Hi-Art image-guided radiation treatment system, shown here.
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