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Varian Medical Systems to Celebrate Tenth Anniversary and Decade of Growth
Date:4/2/2009

PALO ALTO, Calif., April 2 /PRNewswire-FirstCall/ -- Varian Medical Systems (NYSE: VAR) today is celebrating its tenth anniversary and a decade of growth and innovation in life-saving technology utilizing X-ray energy for cancer treatment, imaging, and security and inspection.

Varian Medical Systems emerged as a stand-alone company on April 2, 1999 following the division of Varian Associates, a 51-year-old Silicon Valley pioneer, into three separate companies focused on medical technology, semiconductor manufacturing, and scientific instruments.

"We have a lot to celebrate," said Tim Guertin, president and CEO of Varian Medical Systems. "We have built a growing business based on our mission of focusing energy on protecting and saving lives. We have revolutionized radiotherapy and radiosurgery for treating cancer, paved the way for lower-cost filmless X-ray imaging, and developed systems for fast, automatic detection of threats in cargo moving through ports and borders."

Varian Medical Systems is now bigger than its parent company was at the time of the division. The company nearly quadrupled its annual revenues, growing from $542 million in fiscal 1998 to $2.1 billion in fiscal 2008. It increased annual operating earnings from $24 million to $419 million over the same period while growing annual net earnings grew from $8 million to $295 million.

Scores of new products were introduced during the decade, in each of Varian's areas of business:

  • Radiation Oncology: Varian has revolutionized radiotherapy and radiosurgery with innovations that are making it more precise, accurate, effective, and affordable as well as more comfortable for patients. Varian has introduced technology for intensity-modulated radiation therapy (IMRT), image-guided radiothe
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SOURCE Varian Medical Systems, Inc.
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