Independent Analysis of Image-Guided Radiation Therapy Market Highlights ViewRay’s Innovation Lead
CLEVELAND, October 13, 2015 — ViewRay, Inc. (OTCQB:VRAY) announced today that the company has been selected to receive the 2015 Frost & Sullivan Technology Innovation Leadership Award, a prestigious recognition based on an extensive and independent Frost & Sullivan analysis of the North American Image-Guided Radiation Therapy market. ViewRay’sMRIdian® system is the world’s first and only MRI-guided radiation therapy system that images and treats cancer patients simultaneously, bringing the benefits of soft-tissue visualization and adaptive treatment to patients around the world.
Each year, Frost & Sullivan presents this award to a company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased ROI it offers customers, which, in turn, increases customer acquisition and overall market penetration potential.
“By combining MRI capabilities with radiation therapy, ViewRay has not only managed to differentiate its product from the crowd, but also provide two vital benefits to radiation oncologists,” said Frost & Sullivan Senior Research Analyst BhargavRajan. “MRIdian makes high-contrast, soft-tissue imaging possible, which is crucial for pre-treatment planning, and it offers continuous visualization of tissues during radiation delivery—a benefit that other market competitors have been unable to offer.”
“We are honored to receive such a prestigious award for our leadership in innovation, particularly because it’s based upon extensive independent research across the industry,” said Chris A. Raanes, president and chief executive officer of ViewRay. “The future of image-guided radiation therapy lies with MRI-guidance because it reveals live details that were previously unseen. We are proud to be technology leaders in the field.”
The MRIdian system, which has been treating patients since January 2014, is currently installed at four leading cancer centers in the United States and abroad. MRI-guided radiation therapy with MRIdian has been a topic of great interest, with 20 abstracts selected for presentation at this year’s Annual Meeting of the American Association of Physicists in Medicine (AAPM), reporting on real-world clinical experience with the MRIdian system.
The Frost & Sullivan Technology Innovation Leadership Award is one of Frost & Sullivan’s Best Practices Awards, which recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research in order to identify best practices in the industry.
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