Health & Fitness
Health and Fitness
Health and Fitness
Wed, November 19, 2008
Tue, November 18, 2008
TomoTherapy Responds to Avalon Capitals Letter to Board of Directors
MADISON, Wis.--([ BUSINESS WIRE ])--[ TomoTherapy Incorporated ] (NASDAQ: TOMO), producer of the Hi·Art® treatment system for advanced radiation therapy, today confirmed receipt of a letter dated November 17, 2008, from Avalon Capital and issued the following statement from TomoTherapy's Board of Directors:
"We appreciate constructive input from all of our shareholders, we take Avalon's views seriously and we are committed to acting in the best interests of all shareholders. The Board continues to be actively engaged with management on a strategic plan to address business challenges and opportunities to maximize the potential of our technology and products, which Avalon has rightly recognized produce better treatment plans and clinical outcomes for patients. The Board fully recognizes its fiduciary duty to shareholders."
The Board noted a number of material misstatements in Avalon's letter. Among other things, Avalon was in fact offered the opportunity to meet directly with several independent directors, but Avalon did not agree to the meeting. The invitation to meet remains open. Moreover, with respect to recent by-law amendments, the Board noted that it approved a shareholder-friendly declassification of the Board.
About TomoTherapy Incorporated
TomoTherapy Incorporated has developed, markets and sells the TomoTherapy® Hi·Art® treatment system, an advanced radiation therapy system for the treatment of a wide variety of cancers. The Hi·Art treatment system combines integrated CT imaging with conformal radiation therapy to deliver sophisticated radiation treatments with speed and precision while reducing radiation exposure to surrounding healthy tissue. The company's stock is traded on the NASDAQ Global Select Market under the symbol TOMO. To learn more about TomoTherapy, please visit TomoTherapy.com.
©2008 TomoTherapy Incorporated. All rights reserved. TomoTherapy, the TomoTherapy logo and Hi·Art are among trademarks, service marks or registered trademarks of TomoTherapy Incorporated.
