Raysearch enters South Korean distribution agreement
RaySearch Laboratories AB has entered into an exclusive distribution agreement with the South Korean distributor Oncology Total Solution Co. (OTS), based in Seoul. The agreement means that OTS will be fully responsible for marketing, sales and service for RaySearch’s proprietary treatment planning system RayStation® on the South Korean market.
RaySearch already markets RayStation® on the European and US markets. This new distribution agreement marks the starting point in the build-up of the Asian sales and marketing function. In Asia, RaySearch will use local distributors in all the key markets so this agreement will be followed by other distribution agreements for other Asian markets. South Korea is one of the largest radiation therapy markets in Asia with approximately 80 radiation therapy clinics and the technology level is generally high with a long tradition of utilizing more advanced techniques such as IMRT. RayStation® is pending regulatory clearance in South Korea and the process is expected to be finalized in 2012.
OTS has approximately 15 employees and is a leading distributor of radiation therapy equipment in South Korea. The company represents a wide range of international radiation therapy equipment suppliers and has been active for eight years. They are highly experienced in treatment planning systems in particular and have been very successful in building up a large treatment planning user base in South Korea.
“OTS has a very strong track record in our field so we are excited that they have selected to work with us exclusively within treatment planning. Asia represents a huge opportunity for RaySearch so I am very pleased that we now have started the build-up in this region. We are working hard to finalize distribution agreements in other Asian markets so our coverage is set to grow rapidly”, says Johan Löf, CEO of RaySearch.
“RaySearch has a very deep expertise in advanced treatment planning solutions and RayStation® has a number of unique advanced features both for photon and proton therapy and a modern user-friendly interface. The system represents a quantum leap in treatment planning and we are confident that the system will be highly appreciated by the South Korean clinics”, says H W Jang, CEO of OTS.
About RayStation®
RayStation® integrates all RaySearch’s advanced treatment planning solutions into a flexible treatment planning system. It combines unique features such as multi-criteria optimization tools with full support for 4D adaptive radiation therapy. It also includes functionality such as RaySearch’s market-leading algorithms for IMRT and VMAT optimization and highly accurate dose engines for both photon and proton therapy. The system is built on the latest software architecture and has a graphical user interface offering state-of-the-art usability.
About RaySearch
RaySearch Laboratories is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch’s products are mainly sold through license agreements with leading partners such as Philips, Nucletron, IBA Dosimetry, Varian, Accuray and Siemens. To date, 15 products have been launched through partners and RaySearch’s software is used at some 1,800 clinics in more than 30 countries. In addition, RaySearch offers the proprietary treatment planning system RayStation® directly to clinics. RaySearch was founded in 2000 as a spin-off from Karolinska Institutet in Stockholm and the company is listed in the Small Cap segment on NASDAQ OMX Stockholm.
For more information about RaySearch, visit www.raysearchlabs.com.
For further information, please contact:
Johan Löf, President and CEO, RaySearch Laboratories AB
Telephone: +46 (0)8-545 061 30
johan.lof@raysearchlabs.com