by Brendon Nafziger
, DOTmed News Associate Editor | October 12, 2012
Accuray Inc. said Friday that Euan S. Thomson, who has served as CEO and president of the radiation therapy company for nearly 10 years, has resigned.
The Sunnyvale, Calif.-based company said Joshua Levine, 54, formerly CEO of blood transfusion product company Immucor Corp., will step in as his successor.
Thomson, who has led the company since March 2002, helped grow the business from 5 installed systems to more than 642, according to a statement from board chairman Louis J. Lavigne Jr. He also oversaw the acquisition of TomoTherapy, which makes a CT-guided linear accelerator, last year.
Accuray said in its fourth quarter report, released last month, that it managed to bring down the cost of service for TomoTherapy systems, long a goal for the firm. But its adjusted loss per share of 20 cents exceeded Wall Street forecasts of 13 cents per share, according to Zacks Equity Research. Zacks also said in a late September note that although the world radiation therapy market could reach $3.6 billion in four years, Accuray is struggling with a mounting deficit, foreign shipment delays and declining U.S. sales for its signature CyberKnife system.
However, the company does plan to announce two new products, described as "advanced technology platforms," at the end of this month at the American Society for Radiation Oncology's annual show in Boston.