Navigation Links
Varian Medical Systems Acquires Pan-Pacific Enterprises for Marketing, Sales and Distribution of X-Ray Imaging Products in China
Date:12/26/2007

PALO ALTO, Calif., Dec. 26 /PRNewswire-FirstCall/ -- Varian Medical Systems, Inc., (NYSE: VAR) today announced it has completed the acquisition of Pan-Pacific Enterprises, Inc., the largest independent distributor of medical X-ray tubes in China, for the purpose of marketing, sales, and distribution of Varian X-ray imaging products in China. Varian is acquiring the privately held business for approximately $2 million in cash plus an additional amount based on achievement of specified milestones. Pan-Pacific has been an independent distributor of imaging components, including Varian X-ray tubes, in China since 1991.

"This acquisition significantly enhances the Varian sales channel for X-ray tubes and flat panel image detectors in China," said Bob Kluge, President of Varian Medical Systems' X-Ray Products business. "We intend to grow our X-Ray Products business in China and the experienced Pan-Pacific team will be instrumental in helping us achieve that objective. Our business specializes in delivering cost competitive, high performance components for X-ray imaging and they are well-suited to serve the growing market for high-quality imaging products in China."

Pan-Pacific Enterprises, which has approximately 30 employees working at facilities in Beijing and Shanghai, will operate within Varian's X-Ray Products business segment. Details of the financial transaction are not being disclosed, but Varian expects that Pan Pacific acquisition will be about neutral to earnings per diluted share in fiscal 2008.

Varian Medical Systems, Inc., of Palo Alto, California, is the world's leading manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a premier supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems employs approximately 4,500 people who are located at manufacturing sites in North America, Europe, and China, and in its 56 sales and support offices around the world.

Forward Looking Statements:

Except for historical information, this news release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning customer demand and acceptance of products or technology for X-ray imaging, and the outlook for Varian's orders, sales, backlog, or earnings growth; future financial results and any statements using the terms "will," "intend," "well-suited to serve," "expects," or similar statements are forward-looking statements that involve risks and uncertainties that could cause Varian's actual results to differ materially from those anticipated. Such risks and uncertainties include the ability to integrate the operations and products of Pan-Pacific Enterprises into Varian, the ability to retain the services of key Pan-Pacific personnel; demand for Varian's X-ray imaging products; the impact of competitive products and pricing; Varian's ability to maintain or increase operating margins; Varian's ability to protect its intellectual property; the risk of operations interruptions due to events beyond Varian's control; and the other risks listed from time to time in Varian's filings with the Securities and Exchange Commission. We assume no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.

FOR INFORMATION CONTACT:

Varian Medical Systems

Spencer Sias (650) 424-5782


'/>"/>
SOURCE Varian Medical Systems, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Cranberry Could Juice Up Ovarian Cancer Treatment
2. New Ovarian Cancer Drug Trial Under Way
3. Scientists demonstate link between genetic variant and effectiveness of smoking cessation meds
4. Pelvic Exams Can Help Spot Ovarian Cancer
5. Study fuels debate over whether exercise and body size influence ovarian cancer risk
6. Experimental drug boosts survival in recurrent ovarian cancer
7. New Ovarian Cancer Biomarker Research Act Introduced
8. Common Early-Warning Symptoms of Ovarian Cancer Identified in CDC/Thomson Healthcare Study
9. More Fiber, Less Fat Help Prevent Ovarian Cancer
10. Media availability: low-fat dietary pattern may lower risk of ovarian cancer
11. The Silent Killer, Ovarian Cancer on Your Cancer Today (TM)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... ... 05, 2016 , ... The event is being held on April 7, 2016 ... Minn. Triumph Over Parkinson’s will fund nearly $100,000 for research for the care and ... Parkinson’s disease and is the architect of this informative event to raise awareness and ...
(Date:2/5/2016)... Dickson, Tennessee (PRWEB) , ... February 05, 2016 ... ... State Community College President George H. Van Allen have signed a joint enrollment ... semester, provides a seamless pathway toward associate and baccalaureate degrees at FHU|Dickson. ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... franchises from across the country gathered at the La Valencia Hotel in San ... PROSHRED Chicago was named the year’s most outstanding franchise, walking away with ...
(Date:2/5/2016)... ... ... Boar’s Head Brand®, one of the nation’s leading providers of premium delicatessen foods, ... out of your party preparation – follow these easy, yet delicious recipes with the ... , “The key to hosting a successful game-day party is creating a flavorful menu ...
(Date:2/5/2016)... ... ... Stuart Bentkover, MD, FACS is thrilled to announce the arrival of ... removal today, Dr. Bentkover is the only doctor in Central Massachusetts to offer patients ... approved by the Food and Drug Administration (FDA) as a safe and efficient method ...
Breaking Medicine News(10 mins):
(Date:2/5/2016)... , Feb. 5, 2016  Venice,s newest laser ... the first of its kind in the area ... through advanced laser treatment. The physician-owned and operated ... Suncoast by storm with its revitalizing skin ... advanced multi-wavelength Astanza Trinity technology. http://photos.prnewswire.com/prnh/20160204/329957 ...
(Date:2/5/2016)... Feb. 5, 2016  Henry Schein, Inc. (NASDAQ: HSIC ... and services to office-based dental, animal health and medical ... agreement to acquire a majority ownership interest in Dental ... in Brazil . ... Dental Cremer is the dental distribution business of Cremer ...
(Date:2/4/2016)... Calif. , Feb. 4, 2016  Edwards Lifesciences ... patient-focused innovations for structural heart disease and critical care ... accelerated share repurchase (ASR) agreement with Morgan Stanley & ... stock.  This repurchase is part of the Company,s previously ... the Company,s common stock.  --> ...
Breaking Medicine Technology: