Accuray Incorporated ARAY recently announced its partnership with Genolier Innovation Hub, a fully-owned subsidiary of AEVIS VICTORIA SA. The tie-up aims to support a unique approach to improve patient outcomes.The Genolier Innovation Hub (which will be located at the center of the Genolier Healthcare Campus in Genolier, Switzerland) is expected to unite companies from the MedTech, pharma and biosciences sectors with physicians and scientists under one roof. The goal of this collaboration is to bring medical and technological advances to patients at a faster rate. The hub is expected to open in early 2024.The latest partnership is expected to be a step forward for Accuray to strengthen its radiation therapy business on a global scale.Rationale Behind the Tie-UpThe Genolier Innovation Hub will likely offer diverse workspaces to meet the wide-ranging requirements of the participants, including operating rooms to support simulation-based training, among others. Accuray expects to leverage it as a global training center where customers will have the opportunity to obtain hands-on training and learn about advanced radiation therapy techniques — using its CyberKnife and Radixact Systems — from well-known faculties.The CyberKnife and Radixact Systems are radiation therapy devices that have delivered highly-effective treatments for a broad range of tumors almost everywhere in a patient’s body. The two systems are currently being used at the Clinique Générale-Beaulieu in Geneva and the Radixact System is also likely to be used at the Clinique de Genolier, both flagship clinics of the Swiss Medical Network, AEVIS's main shareholding.Per Accuray’s management, the latest tie-up is expected to pave the way for speeding up the progress made in patient-centric care.AEVIS’ management feels that the collaboration with Accuray will likely create a model that sets a new standard in the healthcare industry.Industry ProspectsPer a report by MarketsandMarkets, the global radiotherapy market is valued at $6.3 billion in 2022 and is anticipated to reach $8.1 billion by 2027 at a CAGR of 5.1%. Factors like technological advancements in radiotherapy and the rising incidence of cancer are likely to drive the market.Given the market potential, the latest collaboration is expected to provide a significant boost to Accuray’s business globally.Notable DevelopmentsLast month, Accuray reported its fourth-quarter fiscal 2022 results, wherein it saw a year-over-year uptick in Product revenues. Continued strong demand for ClearRT Helical kVCT Imaging for the Radixact System, the VOLO Ultra enhancement to the Accuray Precision treatment planning system for the Radixact System and CyberKnife S7 platform was also seen during the reported quarter.In July, Accuray announced new clinical studies that reinforce the value of its CyberKnife platform in the treatment of neurological indications with non-invasive radiosurgery.In June, Accuray announced its collaboration with Limbus AI Inc. to enhance its adaptive radiotherapy capabilities.Price PerformanceShares of the company have lost 35.7% in the past year compared with the industry’s 31.4% fall and the S&P 500's 12.7% decline.Image Source: Zacks Investment ResearchZacks Rank & Key PicksCurrently, Accuray carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. AMN, ShockWave Medical, Inc. SWAV and McKesson Corporation MCK.AMN Healthcare, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.You can see the complete list of today’s Zacks #1 Rank stocks here.AMN Healthcare has lost 8.6% compared with the industry’s 36.3% fall in the past year.ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.1% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.ShockWave Medical has gained 31.8% against the industry’s 31.4% fall over the past year.McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 9.9%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.McKesson has gained 79.3% against the industry’s 13.4% fall over the past year. Special Report: The Top 5 IPOs for Your Portfolio Today, you have a chance to get in on the ground floor of one of the best investment opportunities of the year. As the world continues to benefit from an ever-evolving internet, a handful of innovative tech companies are on the brink of reaping immense rewards - and you can put yourself in a position to cash in. One is set to disrupt the online communication industry. Brilliantly designed for creating online communities, this stock is poised to explode when made public. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity.>>See Zacks’ Hottest IPOs NowWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Accuray Incorporated (ARAY): Free Stock Analysis Report McKesson Corporation (MCK): Free Stock Analysis Report AMN Healthcare Services Inc (AMN): Free Stock Analysis Report ShockWave Medical, Inc. (SWAV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research