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:6/24/2016)...   Pulmatrix, Inc ., (NASDAQ: PULM ... announced today that it was added to the Russell ... comprehensive set of U.S. and global equity indexes on ... milestone for Pulmatrix," said Chief Executive Officer Robert ... progress in developing drugs for crucial unmet medical needs, ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... report to their offering. ... kidney failure, it replaces the function of kidneys by removing ... thus the treatment helps to keep the patient body,s electrolytes ... Increasing number of ESRD patients & substantial healthcare expenditure ...
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: ... 510(k) clearance for its Elecsys BRAHMS PCT (procalcitonin) assay ... sepsis or septic shock. With this clearance, Roche is ... a fully integrated solution for sepsis risk assessment and ... with bacterial infection and PCT levels in blood can ...
Breaking Medicine Technology:
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. ... The attorneys chosen by their peers for this recognition are considered among the top ... Shareholders received special honors as members of this year’s Legal Elite Hall of Fame: ...
(Date:6/24/2016)... Diego, CA (PRWEB) , ... June 24, 2016 , ... ... with the American Cancer Society and the Road To Recovery® program to drive cancer ... to seniors and other adults to ensure the highest quality of life and ongoing ...
(Date:6/24/2016)... ... 24, 2016 , ... People across the U.S. are sharpening their pencils and ... essay contest in which patients and their families pay tribute to a genetic counselor ... National Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this September. , ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... is proud to recognize Dr. Barry M. Weintraub as a prominent plastic surgeon ... beautiful women in the world, and the most handsome men, look naturally attractive. ...
(Date:6/24/2016)... Maryland (PRWEB) , ... June 24, 2016 , ... ... Angels is actively feeding the Frederick area economy by obtaining investment capital for ... over the past 2½ years that have already resulted in more than a ...
Breaking Medicine News(10 mins):