TomoTherapy Incorporated (TomoTherapy), a diagnostic imaging company, has reached an agreement with Avalon Portfolio LLC (Avalon) and certain of its affiliates. Pursuant to the agreement Jonathan McCloskey, a portfolio manager at Avalon Capital Group Inc., has been appointed to its board, effective April 15, 2009. McCloskey will serve on the company's nominating and governance committee.
Further, TomoTherapy and Avalon will spot and evaluate potential independent candidates for nomination to the TomoTherapy board.
We are pleased to have reached an agreement with Avalon and welcome Mr. McCloskey as a new director,” said Fred Robertson, TomoTherapy’s chief executive officer. “The Board and management remain confident in TomoTherapy’s technology leadership position in the radiation therapy marketplace and continue to believe in the significant long-term potential of the Company. Despite near-term economic challenges, we remain focused on driving operating results and are committed to delivering increased value to all of our shareholders.”
“We are pleased to join TomoTherapy’s Board of Directors and actively work with the Board to enhance shareholder value,” said Jonathan McCloskey of Avalon Capital Group, Inc.