RaySearch Laboratories (AB publ) is a Swedish

medical technology Health technology is defined by the World Health Organization as the "application of organized knowledge and skills in the form of devices, medicines, vaccines, procedures, and systems developed to solve a health problem and improve quality of liv ...

company that develops software used in

radiation therapy Radiation therapy or radiotherapy (RT, RTx, or XRT) is a therapy, treatment using ionizing radiation, generally provided as part of treatment of cancer, cancer therapy to either kill or control the growth of malignancy, malignant cell (biology), ...

cancer Cancer is a group of diseases involving Cell growth#Disorders, abnormal cell growth with the potential to Invasion (cancer), invade or Metastasis, spread to other parts of the body. These contrast with benign tumors, which do not spread. Po ...

. The company markets its products worldwide and has

subsidiaries A subsidiary, subsidiary company, or daughter company is a company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unl ...

in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

Belgium Belgium, officially the Kingdom of Belgium, is a country in Northwestern Europe. Situated in a coastal lowland region known as the Low Countries, it is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeas ...

France France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

, and the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

. RaySearch markets the RayStation treatment planning system. Its products are also distributed through licensing agreements with medical technology companies including Accuray, Mevion,

Philips Koninklijke Philips N.V. (), simply branded Philips, is a Dutch multinational health technology company that was founded in Eindhoven in 1891. Since 1997, its world headquarters have been situated in Amsterdam, though the Benelux headquarter ...

, Nucletron, IBA, Varian, and Brainlab. RaySearch is a

public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

listed on the

Nasdaq Stockholm Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange (), is a stock exchange located in Frihamnen, Stockholm, Sweden. Founded in 1863, it has become the primary securities exchange of the Nordic countries. As of March 2021, a total ...

stock exchange. Effective on 4 January 2016, RaySearch series B share (RAY B) was moved from the Small Cap to the Mid Cap segment of Nasdaq Stockholm, which is the segment for companies with a market value of at least 150 million euros and up to one billion.

History

RaySearch was established in 2000 as a spin-off from

Karolinska Institutet The Karolinska Institute (KI; ; sometimes known as the (Royal) Caroline Institute in English) is a research-led medical university in Solna within the Stockholm urban area of Sweden and one of the foremost medical research institutes globally. ...

Stockholm Stockholm (; ) is the Capital city, capital and List of urban areas in Sweden by population, most populous city of Sweden, as well as the List of urban areas in the Nordic countries, largest urban area in the Nordic countries. Approximately ...

. Founder and CEO Johan Löf started the company based on knowledge acquired during his PhD work on radiation treatment of moving

tumor A neoplasm () is a type of abnormal and excessive growth of tissue. The process that occurs to form or produce a neoplasm is called neoplasia. The growth of a neoplasm is uncoordinated with that of the normal surrounding tissue, and persists ...

s at

Sweden Sweden, formally the Kingdom of Sweden, is a Nordic countries, Nordic country located on the Scandinavian Peninsula in Northern Europe. It borders Norway to the west and north, and Finland to the east. At , Sweden is the largest Nordic count ...

. A few months after its establishment, RaySearch entered into a

partnership A partnership is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations ...

agreement with Philips Medical Systems, which resulted in the development of the P3 IMRT module of the Pinnacle treatment planning system in 2001. In 2003, RaySearch was listed on the O-list of the Stockholm Stock Exchange, which has been part of Nasdaq since 2008. Between 2004 and 2007, RaySearch entered into partnership agreements with Nucletron, IBA Dosimetry, TomoTherapy, and

Varian Medical Systems Varian Medical Systems is an American radiation oncology treatments and software maker based in Palo Alto, California. Their medical devices include linear accelerators (LINACs) and software for treating cancer and other medical conditions with ...

. RaySearch

algorithm In mathematics and computer science, an algorithm () is a finite sequence of Rigour#Mathematics, mathematically rigorous instructions, typically used to solve a class of specific Computational problem, problems or to perform a computation. Algo ...

s were adopted for use in several of the leading radiation therapy treatment planning systems. RaySearch also began engaging in clinical research collaborations, notably working with Princess Margaret Hospital, and

Massachusetts General Hospital Massachusetts General Hospital (Mass General or MGH) is a teaching hospital located in the West End neighborhood of Boston, Massachusetts. It is the original and largest clinical education and research facility of Harvard Medical School/Harvar ...

, to pioneer adaptive therapy and multi-criteria optimization. In 2008, RaySearch made the decision to develop and

market Market is a term used to describe concepts such as: *Market (economics), system in which parties engage in transactions according to supply and demand *Market economy *Marketplace, a physical marketplace or public market *Marketing, the act of sat ...

its own treatment planning system. The RayStation system was launched in 2009, and West German Proton Therapy Center Essen placed the first order in the same year. RayStation received US FDA 510(k) clearance in 2010 and Massachusetts General Hospital subsequently placed the first US order for the system. The first patient treatment with RayStation took place in 2011 at Massachusetts General Hospital. The first complete version of RayStation was released in 2012, and RayStation was approved for sale in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

in 2013.

Current products

RayStation

RayStation is a treatment planning system for radiation therapy of cancer. The system supports several treatment techniques, including: * 3D-CRT * Electron therapy * IMRT * Helical Tomotherapy * VMAT *

Proton therapy In medicine, proton therapy, or proton radiotherapy, is a type of particle therapy that uses a beam of protons to irradiate diseased tissue, most often to treat cancer. The chief advantage of proton therapy over other types of external beam ...

* Carbon-ion therapy * Adaptive radiation therapy

References

{{reflist

External links

Official website
Medical technology companies of Sweden Swedish brands Companies listed on Nasdaq Stockholm