Hitachi, Ltd. (TSE:6501/NYSE:HIT) today announced that it has entered into an agreement with St. Jude Children’s Research Hospital to provide its proton beam therapy (PBT) system. This next-generation technology has spot scanning capability for treating certain forms of cancer. The agreement includes PBT system maintenance for 10 years following completion of the systems’ installation. The system will be installed at St. Jude Children’s Research Hospital in Memphis, TN. There will be three treatment rooms, two with rotating gantry systems and one with a fixed horizontal beam. The installed PBT system will be a compact design with a foot print that is approximately 40 percent smaller than that of conventional systems. Construction for facilities has already begun and treatment using the proton therapy system is expected to be offered in the fall of 2015. Dr. William Evans, Chief Executive Officer of St. Jude Children’s Research Hospital, said “By bringing the technology to our campus, we will become the first center in the country offering this cutting-edge therapy solely for the purpose of treating children with brain tumors and other pediatric cancers. Currently, we ensure our patients needing this therapy receive it through collaboration with other institutions, but having the technology available here at St. Jude will enable a new level of service and convenience for our patients. In addition, it takes advantage of recent advances in the technology and will allow integration with our cutting-edge research programs.” Tatsuro Ishizuka, Vice President and Executive Officer, President & CEO of Power Systems Company, Hitachi, Ltd. said, "It is an honor to have our technology recognized and to be selected to provide our PBT system. We are especially proud of the fact that our system has been selected by the premier pediatric oncology hospital and will be dedicated to the treatment of children. Hitachi pioneered proton beam therapy technology in Japan and devoted research and development resources to improve this technology over the past 20 years. Hitachi’s expertise in accelerators, irradiation and control systems played a key role in the development and refinement of the PBT system. Hitachi will continue to contribute to improving treatment outcomes for people with cancer by promoting PBT business globally.”
Hitachi (NYSE:HIT) hit a new 52-week high Tuesday as it is currently trading at $63.44, above its previous 52-week high of $63.17 with 8,582 shares traded as of 9:35 a.m. ET. Average volume has been 60,800 shares over the past 30 days.