Medical imaging; Varian - Cancer Care; Laboratory diagnostics; Point-of-care testing; . Mike Bruff joined Varian two years ago with extensive finance, accounting and operational experience. Visit website Expecting to continue our strong operational performance, the company plans to invest in our growth initiatives including: driving core business growth in China, fueling growth of our recent acquisitions by building out global sales and distribution capacity, and touching more patients by ramping research and development investments in technology-enabled services, FLASH technology, our Noona patient reported outcome offering, and cloud-based software. }. We have not provided a reconciliation of non-GAAP guidance measures to the corresponding GAAP measures on a forward-looking basis due to the potential significant variability and limited visibility of the excluded items discussed below. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. In addition, this measure may be different from non-GAAP measures used by other companies, limiting its usefulness for comparison purposes. Halcyon is advertised to be intuitive, friendly and comfortable for clinical staff and patient alike. Everywhere. We exclude such gains and losses because we do not believe they are reflective of our core business. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! Non-GAAP earnings per diluted share from continuing operations for the second through fourth quarters of the fiscal year are expected to be in the range of $2.94 to $3.06. Investor Relations ContactJ. When typing in this field, a list of search results will appear and be automatically updated as you type. To access the call via telephone, dial 1-877-869-3847 from inside the U.S. or 1-201-689-8261 from outside the U.S. We exclude such expenses or benefits as they are related to acquisitions and have no direct correlation to the operation of our on-going business. Varian Medical Systems is an American radiation oncology treatments and software maker based in Palo Alto, California. Varian (NYSE: VAR) today announced its fourth quarter and full fiscal year 2019 results and new appointments to key leadership roles. Mr. Bruff, 48, replaced Spencer Sias who retired in June 2017. "We are very pleased that we were able to complete this successful separation and create two strong independent companies," said Dow Wilson, CEO of Varian Medical Systems. Home SEC Filings Varian Medical Systems Inc (VAR) 10-K Annual Report Mon Nov 25 2019 VAR Corporate News Change in Control Ending Agreement Event for Officers April 2021 Event for Officers Financial Exhibit April 2021 Event for Officers March 2021 Event for Officers Financial Exhibit Regulated Disclosure March 2021 Earnings Release Financial Exhibit Net cash provided by operating activities was $118 million, up 9%. [8][9], Varian Medical Systems has acquired other companies including Pan-Pacific Enterprises,[17] ACCEL Instruments,[18] Bio-Imaging Research, Inc.[19] Sigma Micro Informatique Conseil,[20] Argus Software,[21] Dosetek Oy,[22] Velocity Medical Solutions. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. Is Varian Medical Systems, Inc. (NYSE:VAR) a buy, sell, or hold? We apply our GAAP consolidated effective tax rate to our non-GAAP financial measures, other than when the underlying item has a materially different tax treatment. These new applications will enhance the companys foundation in in-vitro diagnostics, image-guided therapy, in-vivo diagnostics, and innovative cancer care. Dive deeper into our fascinating technologies. Siemens Healthineers is continuously developing its product and service portfolio, with AI-supported applications and digital offerings that play an increasingly important role in the next generation of medical technology. , . We exclude these charges or benefits, when significant, as well as legal costs associated with significant legal matters, because we do not believe they are reflective of on-going business and operating results. Michael BruffSenior Vice President, Investor Relations+1 (650) 424-5163investors@varian.com, Press ContactMark PlungyDirector, Public Relations+1 (650) 424-5630mark.plungy@varian.com. In 1999, Varian Medical Systems, Inc. sued a former employee for defamation after they posted numerous messages criticizing the company on the Internet. These measures are not presented in accordance with, nor are they a substitute for U.S. generally accepted accounting principles, or GAAP. Because, for cancer patients everywhere, their fight is our fight. In case of discrepancies, the German language document is the sole authoritative and universally valid version. For the balance of fiscal year 2017, the company expects that revenues from continuing operations will grow in the range of 4 to 5 percent, bringing revenue growth for the fiscal year to 3 to 4 percent. Other companies that report or describe similarly titled alternative performance measures may calculate them differently, which may therefore not be comparable. Our guidance continues to consider the projected market growth and momentum of our products and solutions in the market. Varian Announces First Participant Treated in RADIATE-VT Clinical Trial of Cardiac Radioablation . We believe that excluding amortization of intangible assets allows the users of our financial statements to better review and understand the historic and current results of our operations, and also facilitates comparisons to peer companies. , . During the quarter, the company invested $32 million to repurchase279,000 shares of common stock. PALO ALTO, Calif., Jan. 30, 2017 /PRNewswire/ -- Varian Medical Systems (NYSE: VAR) today announced it has successfully completed the separation of its Imaging Components Business, which is now established as Varex Imaging Corporation (NASDAQ: VREX). The mandatory deemed repatriation of unremitted foreign earnings results in an estimated benefit of $1.5 million in the fourth quarter and an estimated charge of $6.3 million in fiscal year 2019 and a benefit of $8.5 million in the fourth quarter and an estimated charge of $164.6 million in fiscal year 2018. The company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise. Based on the success of the integration and the robust early performance by our Interventional Oncology Solutions business, it is the right time to move this new business from the incubation stage under the Chief Growth Office, and it will now report directly to Bischoping in his new role as president of Interventional Oncology Solutions. [37], "Varian Medical Systems Inc 2018 Annual Report Form (10-K)", "Varian Medical Systems Inc 2017 Annual Report Form (10-K)", "Varian Medical Systems, Inc. (VAR) Stock Price, News, Quote & History", "Siemens Arm to Buy Varian in Year's Biggest Health Care Deal", "Siemens Healthineers expands into cancer care with $16.4 billion deal for Varian", "Siemens Healthineers completes Varian acquisition", "Varian to Combine with Siemens Healthineers in $16.4 Billion All-Cash Transaction", "Varian sold to Siemens Healthineers in $16.4B all-cash deal", "The klystron: A microwave source of surprising range and endurance", "Varian Semiconductor Separates From its Parent", "Varian Associates Completes Reorganization Into Three Independent, Public Companies", "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", "Siemens Healthineers wants to buy Varian for 16.4 billion dollars", "Varian acquires Chinese medical equipment distributor", "Varian to acquire German proton therapy system supplier ACCEL Instruments", "Varian Medical Systems Completes Acquisition of Bio-Imaging Research", "Varian Medical Systems acquires Sigma Micro Informatique Conseil", Varian Medical Systems Acquires Argus Software; Argus Software Automates Collection of Quality Control and Test Data for Radiation Equipment. Our effective tax rate decreased in fiscal year 2020 over fiscal year 2019, primarily because the prior period included a goodwill impairment charge and an in-process research and development expense, neither of which generated a tax benefit for the Company. Varian manufactures the ProBeam Proton Therapy System, with current and planned installations at several sites globally. +1 (484) 000-0000. Organic growth excludes the year over year impact of FX and growth from the acquisitions of CTSI, Endocare, Alicon and the Boston Scientific bead portfolio. Includes a $50.5 million goodwill impairment charge related to our Proton Solutions business in fiscal year 2019. Except for historical information, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. from 8 AM - 9 PM ET. About Varian Medical Systems Varian Medical Systems focuses energy on saving lives and is the world's leading manufacturer of medical devices and software for treating and managing cancer. These values are presented on a non-GAAP basis. We have provided a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure. Information regarding Varian's directors and executive officers is contained in Varian's Annual Report on Form 10-K for the year ended September 27, 2019 and in the proxy statement for Varian's 2020 annual meeting of The teleconference replay will be available through 5:00 p.m. Pacific Time, Friday, October 25, 2019. "While we have more work to do in sharpening our execution, our order and revenue growth has us looking forward to the next fiscal year. The combination with Varian. The company expects its annual effective tax rate subsequent to the separation of its Imaging Components business to be in the range of 25 to 26 percent. The acquisition was previously announced on August 2, 2020. This measure is not presented in accordance with, nor is it a substitute for U.S. generally accepted accounting principles, or GAAP. [34] Varian also develops medical software and radiology information system for proton treatment planning system. Continued leadership in innovation and market execution drove strong worldwide growth in 2019. Significant litigation charges or benefits and legal costs: We may incur charges or benefits as well as legal costs from time to time related to litigation and other contingencies. These supplemental financial measures may have limitations as analytical tools and should not be viewed in isolation or as alternatives to measures of Siemens Healthineers net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its half-year consolidated financial statements and consolidated financial statements. We pioneer breakthroughs in healthcare. At Varian, we envision a world without fear of cancer. SALT LAKE CITY, Jan. 30, 2017 /PRNewswire/ -- Varex Imaging Corporation (Nasdaq: VREX) today announced that its spin-off from Varian Medical Systems (NYSE: VAR) has been successfully. Varian Medical Systems is scheduled to conduct its fourth quarter fiscal year 2019 conference call at 1:30 p.m. Pacific Time today. Other Containers and Packaging. Varian Medical Systems Inc CIK: 203527 Ticker: VAR Investor Relations Contact Anshul Maheshwari Vice President, Treasury and Investor Relations +1 (650) 424-5163 investors@varian.com Press Contact Kathy Conner Vice President, Global Corporate Marketing +1 (650) 424-5695 kathy.conner@varian.com FOR IMMEDIATE RELEASE Gross orders for the fourth quarter were $1.1 billion, up 7%, and $3.4 billion for the full year, up 9%. As a leading medical technology company headquartered in Erlangen, Germany, Siemens Healthineers enables healthcare providers worldwide through its regional companies to increase value by empowering them on their journey towards expanding precision medicine, transforming care delivery, improving the patient experience, and digitalizing healthcare. Headquartered in Palo Alto, California, Varian employs approximately 6,600 people around the world. Suite 3000. We utilize a number of different financial measures, both GAAP and non-GAAP, in analyzing and assessing the overall performance of our business, in making operating decisions, forecasting and planning for future periods, and determining payments under compensation programs. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. Although these events are reflected in our GAAP financials, these unique transactions may limit the comparability of our on-going operations with prior and future periods. Statements concerning industry or market outlook, including growth drivers; the company's future orders, revenues, or earnings growth or other financial results; and any statements using the terms "believe," "expect," "promising," "outlook," "should," "will" 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. Varian Medical Systems (NYSE: VAR) . For more information, visit http://www.varian.com and follow @VarianMedSys on Twitter. Mr. Bruff earned his Bachelor of Arts in Economics and Bachelor of Science in Accounting from the University of Maryland in 1990 and 1992, respectively. Please wait while we load the requested 10-K report or click the link below: https://last10k.com/sec-filings/report/203527/000020352720000027/var-20201002.htm. We exclude such expenses or benefits as they are related to acquisitions and have no direct correlation to the operation of our on-going business. Shares used in the calculation of net earnings per share: Weighted average shares outstanding - basic, Weighted average shares outstanding - diluted, Preliminary Condensed Consolidated Balance Sheets, Prepaid expenses and other current assets, Current assets of discontinued operations, Discussion of Non-GAAP Financial Measures. Earlier this year, we combined the recently acquired businesses of Endocare, Alicon and the microsphere and bland embolic bead assets from Boston Scientific to create our Interventional Oncology Solutions business under the Chief Growth Office, reporting to Kolleen Kennedy, president, Proton Solutions and chief growth officer. [10][11], By 1999, Varian Associates had branched into semiconductor, vacuum tube, and medical device fields. This is primarily done by automating several functions typically performed manually by radiographers, such as switching between treatment beams automatically. Represents the charge to income tax expense due to the increase of a valuation allowance as a result of an acquisition. Such risks and uncertainties include our ability to achieve expected synergies from acquisitions; risks associated with integrating recent acquisitions; global economic conditions and changes to trends for cancer treatment regionally; currency exchange rates and tax rates; the impact of the Tax Cuts and Jobs Act; the impact of the Affordable Health Care for America Act (including excise taxes on medical devices) and any further healthcare reforms (including changes to Medicare and Medicaid), and/or changes in third-party reimbursement levels; recent and potential future tariffs or a global trade war; demand for and delays in delivery of the company's products; the company's ability to develop, commercialize and deploy new products; the company's ability to meet Food and Drug Administration (FDA) and other regulatory requirements, regulations or procedures; changes in regulatory environments; risks associated with the company providing financing for the construction and start-up operations of particle therapy centers, challenges associated with commercializing the company's proton solutions business; challenges to public tender awards and the loss of such awards or other orders; the effect of adverse publicity; the company's reliance on sole or limited-source suppliers; the company's ability to maintain or increase margins; the impact of competitive products and pricing; the potential loss of key distributors or key personnel; challenges related to entering into new business lines; 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. Continuing to invest in meaningful innovation, go-to-market capabilities, and scalable infrastructure is aligned with our commitment to drive long-term growth for shareholders. Discover the stories of pioneers pushing the boundaries of whats possible in healthcare to help improve peoples lives around the world. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. [14][15] The deal was approved and completed on 15 April 2021. We have not provided a reconciliation of non-GAAP guidance measures to the corresponding GAAP measures on a forward-looking basis due to the potential significant variability and limited visibility of the excluded items discussed below. For more than 70 years, we have developed, built, and delivered innovative cancer care technologies and solutions for our clinical partners around the globe to help them treat millions of patients each year. Discussion of Non-GAAP Financial Measures. All forward-looking statements only speak as of the date when they were made and Siemens Healthineers neither intends, nor assumes any obligation, unless required by law, to update or revise these forward-looking statements in light of developments which differ from those anticipated. This press release includes the forward-looking non-GAAP financial measure, non-GAAP diluted net earnings per share. "As Varian continues to evolve and grow, our deep bench of leadership capabilities across the organization will help propel our business to success in the near- and long-term.". The meeting will be held at The Resort at Pelican Hill, 22701 Pelican Hill Road South . [citation needed]. 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