Varian Medical Systems Inc., headquartered in Palo Alto, Calif., provides medical linear accelerators and treatment planning, simulation and verification systems for cancer radiotherapy. The company also produces advanced brachytherapy systems for treating cancer. Varian X-ray tubes are sold to major diagnostic equipment manufacturers and are used in various applications including advanced mammography and CT scanning. The company also produces the PaxScan line of real-time, digital X-ray image detectors, which are incorporated in many types of diagnostic imaging systems. The company's Security and Inspection group manufactures high-energy X-ray devices for non-destructive testing and cargo screening.
History
Varian Medical Systems Inc. was founded as Varian Associates in 1948 by a group of scientists with strong connections to Stanford University. The company's founders included brothers Russell and Sigurd Varian, inventors of the klystron tube, a high-frequency amplifier for generating microwaves that became an essential component of the modern medical linear accelerator. During the 1950s and 1960s, Varian Associates invented or commercialized many technologies, including X-ray tubes and linear accelerators. In the late 1960s, the company developed the medical linear accelerator for radiation therapy. Ultimately, linear accelerators displaced cobalt as the radiation therapy method of choice. Since then, more than 3,600 of Varian Medical Systems' Clinac linear accelerators have been installed at hospitals and clinics worldwide. In early 1999, Varian Associates changed its name to Varian Medical Systems after spinning off its semiconductor manufacturing equipment business and its scientific instruments business.
Officers
Chairman and CEO Richard Levy joined Varian Medical Systems in 1999 when Varian Associates Inc. separated into three independent businesses. Prior to that, Levy served as executive vice president of Varian Associates. As president and COO, Timothy Guertin is responsible for guiding and directing the development, production, promotion and sale of all Varian Medical Systems products and services throughout the world. Senior Vice President and CFO Elisha Finney has been serving as a corporate vice president and CFO since August 1998. In January 2005 she became a senior vice president, overseeing all finance, investor relations, information systems and regulatory affairs functions. George Zdasiuk is corporate vice president and chief technology officer and director of the Ginzton Technology Center. As director of Ginzton, Varian's research and development center, Zdasiuk is responsible for the company's research and new venture start-up activities.
In The News: Creating Jobs, New Products
By expanding its Salt Lake City facility, Varian Medical Systems will create new jobs and products that could result in breakthrough treatments for cancer, according to an Aug. 30 article in Salt Lake City's Deseret Morning News. In July, Utah's economic development board approved up to $1 million in rebates for the company for creating 100 to 250 new jobs that pay at least 125% of the county median, the paper reported. Varian will produce its PaxScan line of real-time, digital X-ray image detectors at the facility. The company is trying to develop products there that will enable doctors to identify small tumors before they turn fatal.
More recently, on Oct. 17 the company introduced its ARIA Oncology Information Management System, a comprehensive real-time management system and database product for operating filmless and paperless cancer clinics that offer radiation therapy, chemotherapy and surgery.
-- Compiled By Jonathan Katz. This appeared in IW's Dec. 16, 2005 issue. <
Primary Industry
Machinery
Executive 1
Richard M. Levy, Chmn., CEO
Executive 2
Timothy Guertin, Pres., COO
Revenues (US$ Millions)
1235.52
Revenue Growth (%)
18.62
Earnings Per Share (US$)
1.18
Total Equity (US$ Millions)
613.71
Profit Margin (%)
13.54
Return On Equity (%)
29.67
Debt To Equity Ratio (%)
0.09
Market Capitalization (US$ Millions)
NA
Revenue Growth (%)
18.62
Note: Financial data appeared in IW's August 2005 issue.
IW 50 Best Manufacturing Company
