Letter of Intent signed with Elekta K.K. Japan

C-RAD AB with its three fully owned subsidiaries and three international sales companies are all active in the field of radiation therapy. C-RAD has signed a Letter of Intent with Elekta K.K. Both companies declare their intention to cooperate on the Japanese market.

C-RAD and Elekta want to conclude an agreement to cooperate in sales and marketing as well as in service for the C-RAD products. Product packages for new installations of Elekta linear accelerators together with Catalyst and Sentinel will be defined. Upgrade packages to customers with existing Linacs will be offered as well. C-RAD will train the Elekta service organization to handle installation and service of the products. Therewith customers will have local sales and support.

The product registration process has been started.

Shuichi Higaki, President, Elekta K.K.:

“Elekta KK is very pleased to be able to form this strong partnership with C-RAD AB and to introduce the Catalyst and Sentinel products into the Japanese Radiotherapy market.  Many of Elekta’s current & future customers and the market at large will derive great benefits from having access to this leading edge technology and when coupled with Elekta’s fully digital Linear Accelerators it will form a leading edge tool to treat cancer.”

Tim Thurn, CEO, C-RAD AB:

“The Japanese market is the second largest advanced RT market worldwide with close to 800 RT Centers. The cooperation will give an excellent opportunity for C-RAD to enter the important Japanese market with a strong partner. At the same time Elekta and its customer have the opportunity to get access to the full functionality of Sentinel 4DCT and Catalyst.”

About C-RAD

C-RAD develops new and innovative solutions for the use in advanced radiation therapy. The company group of C-RAD offers products and solutions for patient positioning, tumor localization and radiation treatment systems. End users are radiation therapy clinics worldwide. All product development is conducted in three fully owned subsidiaries; C-RAD Positioning AB, C-RAD Imaging AB and C-RAD Innovation AB. C-RAD Imaging AB is located in Östersund while the other companies are located in Uppsala. Numbers of employees are currently 29 people. The activities in C-RAD AB originate from research and development at the Karolinska Institutet in Solna. Sales of the company’s first product, the C-RAD Sentinel^TM, started in 2007. Cooperation agreements have been signed with the Swedish company Elekta, the US company Varian and the Belgian company IBA. C-RAD is represented by distributors specialized in radiation therapy on major markets. C-RAD has founded three companies for direct sales, C-RAD Incorporated in the US, C-RAD GmbH in Germany and C-RAD WOFE in China. C-RAD has invested in 29 % of the laser company Cyrpa and with an option to acquire the remaining 71 %. C-RAD AB is since March 2010 listed at Nasdaq Omx First North Premier.

For more information on C-RAD, please visit www.c-rad.com.

For further information:

Tim Thurn, CEO C-RAD AB, Phone +46-18-666931, E-mail investors@c-rad.com