Varian Medical Systems Inc
(NYSE: VAR)
68.78
-2.08
-2.94%
-2.08
-2.94%
MORE ON VAR
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Varian Medical Systems, Inc. |
| Industry: | Medical Instruments & Supplies |
| Employees: | 6,100 |
DESCRIPTION
| Varian Medical Systems, Inc., is a Delaware corporation and was originally incorporated in 1948 as Varian Associates, Inc. The Company is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy. It is a supplier of x-ray imaging components for medical, scientific, and industrial applications and also supplies x-ray imaging products for cargo screening and industrial inspection. The Company’s operations are grouped into two reportable operating segments: Oncology Systems and X-ray Products. The Oncology Systems business segment designs, manufactures, sells and services hardware and software products for treating cancer with radiotherapy, stereotactic radiotherapy, stereotactic body radiotherapy, stereotactic radiosurgery and brachytherapy. Products include linear accelerators, brachytherapy afterloaders, treatment simulation and verification equipment and accessories; as well as information management, treatment planning and image processing software. Oncology Systems’ products enable radiation oncology departments in hospitals and clinics to perform conventional radiotherapy treatments and offer advanced treatments such as fixed field intensity-modulated radiation therapy (‘IMRT’), image-guided radiation therapy (‘IGRT’), volumetric modulated arc therapy and stereotactic radiotherapy, as well as to treat patients using brachytherapy techniques, which involve temporarily implanting radioactive sources. The Company’s Oncology Systems products are also used by neurosurgeons to perform stereotactic radiosurgery. Oncology Systems’ customers worldwide include university research and community hospitals, private and governmental institutions, healthcare agencies, physicians’ offices and cancer care clinics. The X-ray Products business segment designs, manufactures, sells and services x-ray imaging components for use in a range of applications, including radiographic or fluoroscopic imaging, mammography, special procedures, computed tomography and industrial applications. The Company’s x-ray imaging components are sold to large imaging system OEM customers that incorporate them into their medical diagnostic, dental, veterinary and industrial imaging systems. It sells x-ray tubes and flat panel digital image detectors for filmless x-ray imaging to small OEMs, independent service companies and directly to end-users for replacement purposes. The Company has three other businesses that are reported together under the ‘Other’ category. SIP designs, manufactures, sells and services Linatron® x-ray accelerators, imaging processing software and image detection products (including IntellXTM) for security and inspection purposes, such as cargo screening at ports and borders and nondestructive examination in a variety of applications. The VPT business develops, designs, manufactures, sells and services products and systems for delivering proton therapy, a form of external beam radiotherapy using proton beams for the treatment of cancer. GTC develops technologies that enhance the Company’s current businesses to new business areas, including technology to improve radiation therapy and x-ray imaging, as well as other technology for a variety of applications, including security and cargo screening. The Company is subject to federal, state and local laws and regulations on an array of additional subjects. It is also subject to extensive laws and regulations protecting the privacy and integrity of patient medical information that it receives, including the Health Insurance Portability and Accountability Act of 1996 (‘HIPAA’), ‘fraud and abuse’ laws and regulations, including, physician self-referral prohibitions, and false claims laws. |
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