Medical radiation equipment maker Accuray Inc. said Wednesday it will partner with Siemens AG to ramp up sales of its CyberKnife robotic radiation therapy system.
Accuray said Siemens will have the right to sell the CyberKnife system as part of a group of products, while Accuray will have the right to sell the system directly. Siemens, which is based in Germany, will also buy some Accuray technology and use it in other products. The companies are also forming a research and development partnership.
Financial terms of the agreement were not disclosed.
Shares of Accuray rose 40 cents, or 6.6 percent, to $6.48 in morning trading.