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Analyst Blog

Leading radiosurgery systems maker Accuray Incorporated recently reported that the Beth Israel Deaconess Medical Center (“BIDMC”), a teaching and research affiliate of Harvard Medical School, has treated its 2,000th patient with the company’s popular CyberKnife radiosurgery system.

This represents a major milestone for BIDMC, the first center in New England to use the CyberKnife system.

BIDMC, in the recent past, has used CyberKnife to treat roughly 450 patients annually with a vast range of intracranial and extracranial tumors and other conditions. The premier teaching hospital, in November 2010, upgraded its CyberKnife facility with the state-of-the-art CyberKnife technology including the Iris variable aperture collimator. The advancement has enabled it to offer more rapid and effective therapy, enhancing patient throughput.

The CyberKnife system is a non-invasive alternative to traditional surgery and is the first and only commercially available intelligent robotic radiosurgery system designed to treat solid tumors anywhere in the body. Patients can be treated with CyberKnife without anesthesia and without the risks and complications inherent in traditional surgery.

CyberKnife boasts of a technology that differentiates it from traditional treatments. It combines continuous image-guidance technology with a compact linear accelerator that has the ability to move in three dimensions according to the treatment plan. CyberKnife systems continues to gain significant traction in the global medical community, thereby boosting Accuray’s sales. The milestone at BIDMC further underscores the innovative therapy system’s growing adoption and usage across leading medical centers globally.

Accuray is a global leader in the field of radiosurgery and provides a non-surgical treatment option for patients diagnosed with cancer. The acquisition of rival TomoTherapy in June 2011 has bolstered its foothold in the radiation oncology space.

While Accuray is expected to benefit from the gradual recovery in hospital capital equipment spending, it remains susceptible to reimbursement uncertainties surrounding its products. Moreover, its CyberKnife systems face a stiff challenge from competitive product offerings of Varian Medical . Currently, we are Neutral on Accuray.

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