STOCKHOLM--(BUSINESS WIRE)--Regulatory News: RaySearch Laboratories AB (STO:RAYB) has entered into an exclusive distribution agreement with the South Korean distributor Oncology Total Solution Co. (OTS), based in Seoul. The agreement means that OTS will be fully responsible for marketing, sales and service for RaySearch’s proprietary treatment planning system RayStation® on the South Korean market. RaySearch already markets RayStation® on the European and US markets. This new distribution agreement marks the starting point in the build-up of the Asian sales and marketing function. In Asia, RaySearch will use local distributors in all the key markets so this agreement will be followed by other distribution agreements for other Asian markets. South Korea is one of the largest radiation therapy markets in Asia with approximately 80 radiation therapy clinics and the technology level is generally high with a long tradition of utilizing more advanced techniques such as IMRT. RayStation® is pending regulatory clearance in South Korea and the process is expected to be finalized in 2012.
