VRAY - ViewRay gains amid new purchase orders for radiation therapy system

• ViewRay ( NASDAQ: VRAY ) shares surged ~15% to the highest level in nearly a year on Thursday after the medical equipment maker announced new orders for its MRIdian MRI-guided radiation therapy system.
• MRIdian is designed to provide oncologists with diagnostic-quality magnetic resonance imaging, helping them to adapt a radiation therapy to the targeted cancer.
• The company said that University Hospitals in Cleveland has entered into a master agreement to immediately purchase one MRIdian system with the option to order additional three systems.
• In another agreement, a subsidiary of Shanghai Fosun ( OTCPK:SFOSF ) unit Chindex Medical Limited has ordered 10 MRIdian systems.
• Shanghai Fosun ( OTCPK:SFOSF ) has been ViewRay’s ( VRAY ) distribution partner in China, where MRIdian was granted the regulatory nod in September 2022.

• Seeking Alpha contributor Zach Bristow upgraded ViewRay ( VRAY ) to Buy in November citing the company’s revised 2022 guidance.

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