Varian Medical Systems

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Varian Medical Systems Inc.
Public
Traded asNYSEVAR
S&P 500 Component
IndustryMedical Technology
Founded1948; 72 years ago (1948)
HeadquartersPalo Alto, California, U.S.
Key people
Dow R. Wilson, President and CEO
ProductsMedical Devices
Revenue
  • Increase US$ 2,919.1 million (2018) [1]
  • Increase US$ 2,619.3 million (2017) [1]
  • Increase US$ 441.6 million (2018) [1]
  • Decrease US$ 300.2  million (2017) [1]
  • Decrease US$ 150.3 million (2018) [1]
  • Decrease US$ 219.2 million (2017) [1]
Total assets
  • Increase US$ 3,252.7 million (2018) [1]
  • Decrease US$ 3,179.4 million (2017) [2]
Total equity
  • Increase US$ 1,588.7 million (2018) [1]
  • Decrease US$ 1,499.3 million (2017) [2]
Number of employees
10,000 [1]
Websitewww.varian.com

Varian Medical Systems (VAR) is an American radiation oncology treatments and software maker based in Palo Alto, California. Their medical devices include linear accelerators and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies software for managing cancer clinics, radiotherapy centers, and medical oncology practices. Varian is a supplier of tubes and digital detectors for X-ray imaging in medical diagnostics, dentistry, veterinary care, scientific, security, industrial inspection including high-energy X-ray technology for cargo screening. Varian Medical Systems employs more than 7,100 people [1] at manufacturing sites in North America, Europe, and China and approximately 70 sites globally.[3]

In August 2020, Siemens Healthineers announced plans to acquire Varian for $16.4 billion.[4][5]

History[edit]

Varian was founded in 1948 as Varian Associates by Russell H. Varian, Sigurd F. Varian, William Webster Hansen, and Edward Ginzton to sell the Klystron, the first tube which could generate electromagnetic waves at microwave frequencies, and other electromagnetic equipment.[citation needed]

By 1999, Varian Associates had branched into semiconductor, vacuum tube, and medical device fields. On April 2, 1999 these divisions split to become Varian Semiconductor, Varian, Inc. and Varian Medical Systems.[citation needed]

In August 2020, Siemens Healthineers AG announced that it plans to acquire Varian Medical Systems in an all-stock deal valued at $16.4 billion.[6]

Acquired companies[edit]

Varian Medical Systems has acquired other companies including Pan-Pacific Enterprises,[7] ACCEL Instruments,[8] Bio-Imaging Research, Inc.[9] Sigma Micro Informatique Conseil,[10] Argus Software,[11] Dosetek Oy,[12] Velocity Medical Solutions.[13] and MeVis Medical Solutions AG [14]

In January 2018, the company announced the acquisition of Sirtex Medical for $1.3 billion.[15]

In 2019, the company acquired CyberHeart, a privately-held company with intellectual property (IP) that covers the use of radiation in the heart (cardiac radioablation) and other forms of radiosurgery for cardiovascular disease.[16]

Spin-off companies[edit]

On January 30, 2017, spin-off of Varex Imaging Corporation (manufacturing of X-ray imaging products) from Varian Medical Systems had been successfully completed.[17]

Varex Imaging office in Santa Clara

Products[edit]

Linear accelerators[edit]

Varian manufactures a range of megavoltage LINACs with varying levels of features and complexity, for example different numbers of multileaf collimators or the ability to perform radiosurgery.[18]

TrueBeam is a radiotherapy system.[19]

The EDGE radiosurgery suite was launched in 2012.[20] The first cancer centers to use the new system were the Champalimaud Foundation in Lisbon, Portugal and Henry Ford Health System in Detroit, Michigan.[21]

Halcyon[edit]

In 2017, Varian launched Halcyon. The system features unique dual-layer MLC that enables high modulation with low leakage for every field or arc.Halcyon is engineered ergonomically to be intuitive, friendly and comfortable for clinical staff and patient alike. This human centered approach means there are fewer parts and protocol for staff to worry about, more time freed up to advance clinical capabilities, and most importantly, more opportunities to provide the highest level of care for every patient. [22]

Proton Therapy[edit]

Varian manufactures the ProBeam Proton Therapy System, with current and planned installations at several sites globally.[23] These are an all pencil-beam scanning proton therapy system utilizing IMTP (intensity modulated proton therapy), which was developed with PSI of Switzerland.[24] Varian also develops medical software and radiology information system for proton treatment planning system.

Ethos Therapy[edit]

On September 16, 2019, during the 2019 American Society for Radiation Oncology (ASTRO) annual meeting, being held Sept. 15-18 in Chicago, Varian announced Ethos therapy, an artificial intelligence (AI)-driven holistic solution[buzzword] designed to increase the capability, flexibility and efficiency of radiotherapy. This new solution[buzzword] is designed to deliver an entire adaptive treatment in a typical 15-minute timeslot, from patient setup through treatment delivery.

Litigation[edit]

Free speech[edit]

In 1999 Varian Medical Systems, Inc. sued a former employee for defamation in Varian v. Delfino. The terminated employee Dr. Michelangelo Delfino posted numerous messages criticizing the company on the Internet. The case finally settled on undisclosed terms. The lawsuit itself was controversial, heavily publicized, and led to a landmark ruling about California's anti-SLAPP statute. Some market-based workers rights activists uphold Delfino as an example because he mortgaged his house to pay his legal bills related to the lawsuit with Varian.[25]

University of Pittsburgh[edit]

On April 25, 2012 a US federal judge in Pittsburgh awarded attorney fees, costs, and doubled damages totaling $73.6 million to the University of Pittsburgh after the university won a suit on medical patent infringement grounds against Varian.[26]

References[edit]

  1. ^ a b c d e f g h i j "VARIAN MEDICAL SYSTEMS INC 2018 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. November 26, 2018.
  2. ^ a b "VARIAN MEDICAL SYSTEMS INC 2017 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. Nov 27, 2017.
  3. ^ https://finance.yahoo.com/quote/VAR?p=VAR
  4. ^ Sachgau, Oliver; Hammond, Ed; Ahmed, Nabila (1 August 2020). "Siemens Arm to Buy Varian in Year's Biggest Health Care Deal". Bloomberg.
  5. ^ Poltz, Jörn; Busvine, Douglas (2 August 2020). "Siemens Healthineers expands into cancer care with $16.4 billion deal for Varian". Reuters.
  6. ^ "Siemens Healthineers AG (SEMHF) announced on Sunday that it plans to acquire U.S. cancer device and software company Varian Medical Systems (VAR) in an all-stock deal valued at $16.4 billion". 2020-08-02. Retrieved 2020-08-03.
  7. ^ MTB Europe - Varian acquires Chinese medical equipment distributor
  8. ^ MTB Europe - Varian to acquire German proton therapy system supplier ACCEL Instruments
  9. ^ "Varian Medical Systems Completes Acquisition of Bio-Imaging Research". 24 May 2007.
  10. ^ Varian Medical Systems acquires Sigma Micro Informatique Conseil
  11. ^ Varian Medical Systems Acquires Argus Software; Argus Software Automates Collection of Quality Control and Test Data for Radiation Equipment. | Company Activities & Management > Company Structures & Ownership from AllBusiness.com
  12. ^ "Varian in Finland | Varian". www.varian.com (in Finnish). Retrieved 2020-06-17.
  13. ^ Varian Medical Systems Signs Agreement to Acquire Velocity Software Platform for Data Driven Clinical Decision Making in Cancer Centers
  14. ^ "Varian Medical Systems acquires majority stake in MeVis Medical Solutions". Reuters. Retrieved 19 January 2016.
  15. ^ https://uk.reuters.com/article/us-biotech-m-a/biotech-ma-explodes-with-27-5-billion-of-january-deals-idUKKBN1FK26U
  16. ^ . PR Newswire https://www.prnewswire.com/news-releases/varian-acquires-cyberheart-300847090.html. Missing or empty |title= (help)
  17. ^ Varex Imaging Completes Separation from Varian Medical Systems, Lists on the Nasdaq Stock Market
  18. ^ "Varian High Energy Linear Accelerator Comparison Chart". Radiology Oncology Systems. Retrieved 4 November 2017.
  19. ^ "Frequently Asked Questions: TrueBeam System | UCLA Radiation Oncology Technology". radonc.ucla.edu. Retrieved 2018-07-12.
  20. ^ "VARIAN MEDICAL SYSTEMS UNVEILS EDGE™ RADIOSURGERY SUITE -- A COMPREHENSIVE SOLUTION FOR NON-INVASIVE SURGICAL PROCEDURES". Varian. Retrieved 19 January 2016.
  21. ^ "Henry Ford 1st in N. America With New Targeted Radiosurgery Technology". Henry Ford Health System. Retrieved 19 January 2016.
  22. ^ "Introducing Halcyon: An Innovative Treatment Platform | Varian Medical Systems". www.varian.com. Retrieved 2018-07-12.
  23. ^ "Varian ProBeam Compact single-room proton therapy system selected by Penn Medicine". MedicalPhysicsWeb. 27 October 2017.
  24. ^ Freeman, Tami (22 April 2011). "Proton therapy: IMPT goes clinical". MedicalPhysicsWeb.
  25. ^ Espe, Erik. "Ex-Varian employees cry `SLAPP'". Silicon Valley Business Journal. Retrieved 19 January 2016.
  26. ^ Lord, Rich (2012-04-25). "Pitt to receive $73.6 million for patent infringements". Pittsburgh Post-Gazette. Retrieved 2012-07-11.

External links[edit]