08 Jul TomoTherapy in acquisition talks with Japanese distributor
Madison, Wis. — TomoTherapy (more articles) said on Tuesday that it has entered into a memorandum of understanding to acquire certain assets of Hi-Art Co., Ltd., a distributor of TomoTherapy’s products in Japan. The sale involves parts of Hi-Art (also the name of TomoTherapy’s main product) related to sales and service.
“As TomoTherapy grows, we continue to assess how we can best serve our customers in all markets,” said Fred Robertson, CEO of TomoTherapy, in a press release. “This move in Japan reflects our commitment to our current and future Japanese customers.”
TomoTherapy expects the transaction to close in Q4 this year and is negotiating a purchase agreement. Hi-Art distributed TomoTherapy’s products starting in 2004.