Montecito Medical Ventures (MMV), a joint venture of Montecito Medical Investment Company, has formed an alliance by purchasing two placement contracts from Accuray, manufacturer of the CyberKnife radiosurgery system.

The purchase has created a program that gives healthcare providers that are affiliated with Montecito Medical access to medical technologies through its financing program. MMV will make a pool of investment capital for healthcare transactions available to providers interested in acquiring CyberKnife or other advanced medical technologies.

Using image guidance technology and computer controlled robotics, the CyberKnife System is designed to track the tumor, detect its location and make needed adjustments throughout the procedure, according to the Sunnyvale, Calif.-based Accuray.