Judy Newman Wisconsin State Journal — 3/28/2009 6:17 am
Pressure is mounting on TomoTherapy as its annual stockholders meeting, on May 1, approaches.
TomoTherapy and its disgruntled shareowner, Avalon Portfolio, have each sent stockholders dueling proxy statements, according to papers filed with federal regulators.
TomoTherapy includes a lengthy letter from chief executive Fred Robertson, admitting that 2008 was "clearly a difficult year" but saying the Madison medical device company has taken steps to keep the company strong. Expenses have been cut — including a 12 percent staff reduction — and two product innovations were introduced, Robertson said.
TomoDirect is a quick form of the company’s Hi-Art radiation therapy system for simple cancer treatment, and Tomo Quality Assurance is "the first integrated, machine-specific quality assurance solution to be offered by a radiation therapy vendor," Robertson said. Additional developments also are in the works.
The company has a new global sales manager, a distribution agreement in Japan, and $155 million in cash and short-term investments as of Dec. 31, 2008.
