Last $81.36 USD
Change Today -0.10 / -0.12%
Volume 531.8K
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varian medical systems inc (VAR) Snapshot

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04/4/14 - $86.60
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varian medical systems inc (VAR) Details

Varian Medical Systems, Inc. designs, manufactures, sells, and services medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy worldwide. The company’s Oncology Systems segment offers linear accelerators, brachytherapy afterloaders, treatment simulation and verification equipment, and accessories; and information management, treatment planning, and image processing software. This segment serves university research and community hospitals, private and governmental institutions, healthcare agencies, physicians’ offices, and cancer care clinics. Its X-Ray Products segment provides X-ray imaging components to large imaging system original equipment manufacturers (OEMs) for use in radiographic or fluoroscopic imaging, mammography, special procedures, computed tomography, and industrial applications; and X-ray tubes and flat panel digital image detectors to small OEMs, independent service companies, and end-users for filmless X-ray imaging. The company also designs, manufactures, sells, and services Linatron X-ray accelerators, imaging processing software, and image detection products for security and inspection purposes, such as cargo screening at ports and borders, and nondestructive examination in various applications. In addition, it offers products and systems for delivering proton therapy; and technologies in the areas of digital X-ray imaging, volumetric and functional imaging, and improved X-ray sources, as well as technology for security and cargo screening applications. The company was formerly known as Varian Associates, Inc. and changed its name to Varian Medical Systems, Inc. in April 1999. Varian Medical Systems, Inc. was founded in 1948 and is headquartered in Palo Alto, California.

6,400 Employees
Last Reported Date: 11/26/13
Founded in 1948

varian medical systems inc (VAR) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $892.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $569.2K
Senior Vice President and President of Oncolo...
Total Annual Compensation: $536.6K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $412.7K
Compensation as of Fiscal Year 2013.

varian medical systems inc (VAR) Key Developments

Varian Medical Systems Settles Patent Dispute with University of Pittsburgh

Varian Medical Systems reported that it has settled patent litigation with the University of Pittsburgh. Varian will pay a lump sum of approximately $35 million to fully settle this matter. The settlement will be largely recorded in the financial results for the company's second and third quarters of fiscal year 2014. The University of Pittsburgh initiated a patent infringement lawsuit against Varian in 2007 regarding the company's Real-time Position Management(TM) technology, which is used to account for breathing motion during delivery of radiation therapy. In 2012, the United States District Court for the Western District of Pennsylvania ruled against Varian, ordering payment of approximately $102 million in damages, enhanced damages, interest and fees as well as ongoing royalty payments. Earlier, during the second quarter of fiscal year 2014, Varian and the University of Pittsburgh reached a settlement agreement that was dependent upon present ruling from the appeals court. Under this pre-negotiated settlement, Varian will not owe any future royalty payments associated with the sale of Varian products that incorporate the patent at issue. Varian customers will continue to have full use of these products.

Varian Medical Systems Installs 500th Medical Linear Accelerator in Japan at the Red Cross Kyoto Daiichi Hospital

Varian Medical Systems, Inc. recently installed its 500(th) medical linear accelerator in Japan at the Red Cross Kyoto Daiichi Hospital. The hospital acquired a Novalis Tx(TM) treatment machine plus Varian's latest Eclipse(TM) software for planning modern radiotherapy treatments that precisely target tumors and minimize dose to surrounding healthy tissues. The Novalis Tx medical linear accelerator is a sophisticated machine that rotates around a patient to deliver a treatment beam from multiple angles while sculpting the beam to match the shape of the tumor. In addition to conventional radiation therapy, it can deliver RapidArc(R) radiotherapy, and also stereotactic radiosurgery, a technique for delivering high dose treatment beams quickly to attack tumors from outside the body in just one to five treatment sessions. Patients can avoid the incisions associated with conventional surgery.

Humanitas Cancer Center in Milan in Italy Introduces Wider Range of Non-Surgical Cancer Treatments Using Varian's Edge Radiosurgery System

Humanitas Cancer Center in Milan has become one of the first hospitals to commence cancer treatments using the new Edge(TM) radiosurgery system from Varian Medical Systems. This precise, non-invasive alternative to conventional surgery has been used to treat several patients with lung, prostate, brain, and liver lesions. The Edge radiosurgery system enables clinicians to attack tumors from outside the body using carefully shaped high-energy X-rays. There are no incisions and patients contend with few of the healing, pain, and recovery issues typically associated with conventional surgery. Targeting precision is enabled by Varian's Calypso(R) 'GPS for the Body' system for tracking tumor position in real time. The system can alert clinicians if a patient has moved in a way that could compromise treatment accuracy. A sophisticated treatment couch with six axes of motion enhances treatment options and precision by providing additional angles for targeting tumors. Humanitas Cancer Center's department of radiotherapy and radiosurgery treats patients using five Varian linear accelerators, including advanced TrueBeam(TM) and TrueBeam STx systems as well as the new Edge Radiosurgery device.


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Price/Earnings 20.2x
Price/Sales 2.9x
Price/Book 5.0x
Price/Cash Flow 19.1x
TEV/Sales 2.3x

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