Contact: Lisa Garvy
Senior Vice President, Business Development
NeuroSource
312.494.4554
lgarvy@neurosource.com
NeuroSource Enters into Three New Technology Joint Ventures
CHICAGO—(January 11, 2005)—NeuroSource Inc. has signed three new stereotactic radiosurgery (SRS) joint venture agreements with hospitals in California, Louisiana and Kansas. With these, NeuroSource continues to expand its base of technology joint ventures, providing hospitals with financial and operational access to the widest range of SRS, an advanced neurosurgical and cancer technology.
“To remain competitive and attract quality physicians, healthcare organizations will increasingly add radiosurgery technology as an option for patients,” explains Kerwin Brandt, Senior Vice President of NeuroSource's Specialty Technology Ventures division. “Our goal is to help those organizations acquire, finance, and successfully manage this increasingly essential yet expensive technology. By working with all vendors, we can ensure the hospital selects the right treatment for its patients.”
Stereotactic radiosurgery is a minimally invasive alternative to traditional surgery for the treatment of some cancers and other malformations. SRS allows physicians to administer relatively high doses of radiation with extreme accuracy, directly targeting diseased tissue while sparing healthy tissue and achieving surgery-like outcomes. SRS does not immediately remove the tumor or malformation; rather the tissue absorbs the radiation and, over time, dies.
Clinical evidence is mounting in support of SRS, but the technology remains a high-stake investment for hospitals, which are increasingly strapped for capital. A single SRS installation can represent a total commitment of more than $5 million. At a time when hospital executives cite access to capital as today's top challenge, alternative sources of financing and outsourced management can be essential to their sustained growth and success.
“Both clinically and financially, our hospital clients are making strong SRS programs a priority," says NeuroSource's Scott Milligan, Vice President of Specialty Technology Ventures. “We provide the financing, the operational infrastructure, and the proven experience to effectively lower the hospital's risk, minimize its capital requirements and assure that it provides patients with the highest quality care.”
NeuroSource's joint ventures have helped hospitals secure the appropriate technology for their market, selecting from the range of SRS vendors, including Elekta, maker of the Gamma Knife® and Synergy systems; Accuray, manufacturer of the CyberKnife® ; and Varian Medical Systems, maker of the TrilogyTM system.
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NeuroSource Inc., headquartered in Chicago, IL, enhances the market position of health systems and physicians. It is the most experienced development partner to the neuroscience and allied specialties, helping create focused facilities, implement new technologies, and provide essential business services. NeuroSource develops, owns and manages focused hospitals and medical technology in conjunction with health systems and physician groups across the country.
Copyright 2005, NeuroSource Inc.