Navigation Links
Varian Medical Systems Board of Directors Authorizes Repurchase of Additional 12 Million Shares of Stock Through Fiscal Year 2012; Additional Accelerated Share Repurchase Program
Date:2/14/2011

PALO ALTO, Calif., Feb. 14, 2011 /PRNewswire/ -- Varian Medical Systems, Inc. (NYSE: VAR) today announced that its Board of Directors has authorized the company to repurchase an additional 12 million shares of its common stock through the end of its fiscal year 2012.  Stock repurchases may be made in the open market, in privately negotiated transactions (including accelerated share repurchase programs), or in Rule 10b5-1 share repurchase plans, and may be made from time to time or in one or more larger blocks.  These repurchases are in addition to the approximately 4.5 million shares remaining under an 8 million share repurchase authorization that expires at the end of the company's fiscal year 2011.  

The company's Board of Directors further authorized the company to enter into an accelerated share repurchase program under which the company could repurchase up to $300 million of its common stock.  The accelerated share repurchase is expected to be made under the company's share repurchase authorization expiring at the end of fiscal year 2011, and potentially under the new authorization expiring at the end of fiscal year 2012.  Details regarding the accelerated share repurchase program are yet to be determined.

Share repurchases will be conducted in compliance with applicable legal requirements, including the Securities and Exchange Commission's (SEC) Rule 10b-18, and the timing of the repurchases and the number of shares to be repurchased at any given time will depend on market conditions, SEC regulations, and other factors.  The repurchase authorizations and the accelerated share repurchase program do not obligate the company to acquire any particular amount of common stock and may be modified, suspended or terminated at any time at the company's discretion.

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 5,400 people who are located at manufacturing sites in North America, Europe, and China and approximately 70 sales and support offices around the world.  For more information, visit http://www.varian.com.

Forward-Looking StatementsExcept for historical information, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning future financial results and any statements using the terms "expect," "will," "believe," "estimate," or similar statements, are forward-looking statements that involve risks and uncertainties that could cause the company's actual results to differ materially from those anticipated. Such risks and uncertainties include whether the company will be able to enter into an agreement relating to the accelerated share repurchase program on favorable terms; the results of any accelerated share repurchase program, including the number of shares repurchased and the aggregate cost to the company; the company's ability to effect share repurchases in general on favorable terms, or at all; the company's ability to generate cash flow, and the other risks listed from time to time in the company's filings with the Securities and Exchange Commission, which by this reference are incorporated herein. The company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.FOR INFORMATION CONTACT:Spencer Sias   (650) 424-5782Spencer.sias@varian.com
'/>"/>

SOURCE Varian Medical Systems
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. First Patient Enrolled in Europe in Ovature Phase III Ovarian Cancer Trial
2. Sunesis Pharmaceuticals Reports Preliminary SNS-595 Activity in Ovarian Cancer Clinical Trial at AACR-NCI-EORTC International Conference
3. Clinical Studies of OvaRex in Advanced Ovarian Cancer Fail to Meet Primary Endpoint
4. Northwest Biotherapeutics Conducting Ovarian Cancer Clinical Trial With DCVax(R)-L at University of Pennsylvania
5. EntreMed Commences Phase 2 Study With MKC-1 in Ovarian/Endometrial Cancers
6. BioNumerik Commences Global Phase III Ovarian Cancer Trial on Novel Anticancer Drug Candidate Known as Karenitecin(R)
7. Sunesis Pharmaceuticals Reports Positive Interim Data for SNS-595 Single-Agent Activity in Platinum-Resistant Ovarian Cancer
8. Vermillions Biomarkers Prove Beneficial in Identifying Women With Ovarian Cancer and Detecting Early-Stage Disease
9. BSI-201 Demonstrates Significant Tumor Growth Inhibition and Increased Survival Rates in Preclinical Ovarian Cancer Studies
10. BiPar Sciences Expands Phase 2 Clinical Trials of BSI-201, a Novel DNA Repair Inhibitor, in Ovarian Cancer
11. Join NPRs David Ewing Duncan, Author Jessica Queller and a Panel of Medical and Legal Experts in a 90-Minute Webcast on Genetic Testing, Genomic Medicine and Breast & Ovarian Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/27/2017)... Sept. 27, 2017  DarioHealth Corp. (NASDAQ: DRIO), a leading global digital ... its MyDario product is expected to appear on The Dr. Oz Show ... Oz Show airs in your area: http://www.doctoroz.com/page/where-watch-dr-oz-show ... The nine-time Emmy award-winning, The Dr. Oz Show kicked off ... The segment features ...
(Date:9/23/2017)... -- Janssen Biotech, Inc. (Janssen) announced today that it ... Food and Drug Administration (FDA) for the Biologics License ... of moderately to severely active rheumatoid arthritis (RA). The ... to further evaluate the safety of sirukumab in the ... "We are disappointed by ...
(Date:9/19/2017)... , Sept. 19, 2017 HistoSonics, Inc., a venture-backed medical device company developing a ... targeted tissues, announced three leadership team developments today:   ... ... ... Veteran medical device executive Josh Stopek , ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... 2017 , ... Apple Rehab Shelton Lakes , which specializes in the ... facility as part of a disaster drill on October 3rd. , Apple Rehab participated ... Emergency Manager, as well as the Connecticut Long Term Care Mutual Aid Plan ...
(Date:10/13/2017)... ... 2017 , ... Global Healthcare Management’s 4th Annual Kids Fun Run brought out ... free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed at getting ... children of all ages; it is a non-competitive, non-timed event, which is all about ...
(Date:10/13/2017)... ... October 13, 2017 , ... “The Journey: From the ... danger possible to save lost souls in the Philippines. “The Journey: From the Mountains ... a dedicated teacher of the Bible. She has taught all ages and currently teaches ...
(Date:10/12/2017)... ... 12, 2017 , ... Planet Fitness, one of the largest and fastest growing ... open a flagship location in Covington, LA at 401 N. U.S. Highway 190, in ... to Office Depot in the Holiday Square shopping center. Its location allows it to ...
(Date:10/12/2017)... ... October 12, 2017 , ... Asante, a nationally recognized ... have expanded their existing home health joint venture through an agreement, effective October ... a joint venture home health company with Asante, delivering clinically integrated care, for ...
Breaking Medicine News(10 mins):