Once the darling of the Madison area high-tech scene, TomoTherapy has been sold to a Silicon Valley-based company in a deal both firms say will help them in the competitive medical devices space.
The new owner, subject to regulatory approval, is Accuray Inc. of Sunnyvale, Calif., which trades under the ARAY symbol. The firm has about 450 employees and sells the “CyberKnife system,” an image-guided radiosurgery system used for the treatment of solid tumors. TomoTherapy, a UW-Madison spin-off which has been struggling to turn a profit, has about 350 employees at its headquarters off Old Sauk Road.