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C-RAD and XECAN announce strategic development and sales cooperation

C-RAD and the US based company XECAN signed a partnership agreement to develop new products to advance patient positioning and resource management within radiation therapy.

The development work will start immediately with a team from both companies and will be done in several phases. A first version of the product is expected to be presented in the second quarter 2019. The XECAN technology will be fully integrated in C-RAD’s c4D software platform. C-RAD and XECAN also signed a distribution agreement that grants C-RAD the sales rights of the product in major markets. C-RAD is targeting new customers but will also provide a seamless upgrade path for customers that are already equipped with C-RAD technology.

XECAN is DBA (doing business as) of myRFIDSpace, Inc. XECAN is a Boston based company incorporated in Delaware, USA.

“More and more radiation clinics are looking for a full patient safety management solution,” says Bin Yang, Ph.D, CEO of XECAN, "XECAN wanted to find just the right partner to work with to meet the needs of the market. We are very delighted to work with C-RAD; the combined strength of both companies will not only expand both of our product lines, but also improve the quality of our services.”

“We are excited to enter into the cooperation with XECAN. This new partner has very strong technology expertise, whereas C-RAD has a very attractive software platform with a high level of integration to automate clinical workflows and a global sales organization to commercialize the new products in major markets.” says Tim Thurn, CEO and President of C-RAD AB, “It is the first step to broaden our offering, and at the same time strengthen our value proposition in the area of highly accurate patient positioning.”

About XECAN:

XECAN is the leading provider of smart clinic solutions through patient tracking and verification. Its solution improves clinic workflow, patient and treatment safety, and overall quality of patient care. XECANs smart integration technology enables its software to be seamlessly integrated with all major hospital EMR systems. XECAN provides the following five major functional modules: Smart Reception, Smart Exam-room Whiteboards, Smart Treatment Procedure Verification, Treatment Planning Workflow Whiteboards and Clinical Analytics Reporting.

About C-RAD

C-RAD develops innovative solutions for use in advanced radiation therapy. The C-RAD group offers products and solutions for patient positioning, tumor localization and radiation treatment systems. All product development is conducted in three fully owned subsidiaries: C-RAD Positioning AB, C-RAD Imaging AB and C-RAD Innovation AB, all of which are located in Uppsala, Sweden. C-RAD has established three companies for direct sales: C-RAD Inc. in the US, C-RAD GmbH in Germany. Cyrpa International SPRL, a Franco-Belgian laser company, is a wholly owned subsidiary whose operations are integrated. C-RAD AB is listed on NASDAQ Stockholm.
For more information on C-RAD, please visit http://www.c-rad.com

For further information:
Tim Thurn, CEO C-RAD AB, Phone +46-18-666930, Email investors@c-rad.com

This information is information that C-RAD AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 12:00 CET on February 7, 2019.

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Thursday, February 7, 2019 - 06:00