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. Varian has approximately 94 million shares outstanding and Varex has approximately 38 million shares outstanding. 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. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding Siemens Healthineers financial position, business strategy, the expected financial impact of the acquisition of Varian (including costs and revenue synergies), plans and objectives of management for future operations (including the achievement of costs and revenue synergies) are forward-looking statements. 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. The non-GAAP financial measures should not be considered in isolation from measures of financial performance prepared in accordance with GAAP. Gary will leverage his keen business expertise to further build Varian's Interventional Oncology Solutions' go-to-market organization, product portfolio and business management system to take advantage of the exciting opportunities we see in the interventional oncology space.". Siemens Healthineers AG (listed in Frankfurt, Germany: SHL) is shaping the future of healthcare. 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. We have not provided a reconciliation of non-GAAP guidance measures to the corresponding GAAP measures on a forward-looking basis due to potential significant variability and limited visibility of the excluded items. 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. The replay can be accessed by dialing 1-877-660-6853 from inside the U.S. or 1-201-612-7415 from outside the U.S. and entering conference ID 13694509. { Previously he served as Senior Vice President and CFO of Dell's Asia Pacific and Japan Commercial Business and Vice President of the Greater China Commercial Business. Hourly rate can vary widely depending on many important factors, including education, certifications, additional skills, the number of years . The exclusions had a $21 million benefit to revenues, a $4 million benefit to cost of revenues and triggered a $2 million expense due to receiving the exclusion in China. Net cash provided by operating activities was $118 million, up 9%. PALO ALTO, Calif., March 27, 2017 /PRNewswire/ -- Varian Medical Systems (NYSE: VAR) announced today that its management will hold a mid-year review on May 10, 2017 in Freedom Hall at the New. 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. Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables wereremoved, added and changedby Varian Medical Systems Inc. Varian Medical Systems Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes: Given the uncertain impact of COVID-19 and/or other market factors on our business, our cash flow projections for this business could decrease in the future, which could lead to an impairment of goodwill. [16] After the merger Varian will continue to operate independently and will retain its headquarters along with its 10,000 employees. 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). We consider the use of the non-GAAP measures to be helpful in assessing the performance of the ongoing operation of our business. NYSE: VAR. United States. 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. On April 25, 2012, a US federal judge in Pittsburgh awarded attorney fees, costs, and doubled damages totaling $73.6 million to the University of Pittsburgh after the university won a suit on medical patent infringement grounds against Varian. Other Containers and Packaging. We provide information on topics such as financial results, the development of Siemens Healthineers and financial events. "articleDate": "October 23, 2019", In addition, this measure may be different from non-GAAP measures used by other companies, limiting its usefulness for comparison purposes. This is primarily done by automating several functions typically performed manually by radiographers, such as switching between treatment beams automatically. Explore our comprehensive portfolio that addresses the complete care continuum for many of the worlds most threatening diseases. Except for historical information, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. About Varian Medical Systems. We exclude such expenses or benefits from our non-GAAP net earnings because we believe they do not accurately reflect the underlying performance of our continuing business operations. [citation needed]. [25], In 2019, the company acquired CyberHeart, a privately-held company with intellectual property (IP) that covers the use of radiation in the heart (cardiac radioablation) and other forms of radiosurgery for cardiovascular disease. These statements contain the words "anticipate", "believe", "intend", "estimate", "plan", "expect", "target" and "will" and words of similar meaning. Using radiation to treat cancer is, needless to say, a serious undertaking; and the enhanced precision that has come from Varian's research . Our 9,200 employees across 70 countries keep the patient and our clinical partners at the center of our thinking as we power new victories in cancer care. Acquisition and integration-related expenses and in-process research and development: We incur expenses or benefits with respect to certain items associated with our acquisitions, such as transaction costs, hedging gains and losses, changes in the fair value of contingent consideration liabilities, gain or expense on settlement of pre-existing relationships, integration costs, breakup fees, write-off of in-process research and development, etc. Varian Medical Systems Invests in Bend It Technologies, Ltd., a Company Developing Novel Steerable Microcatheters Patented technology provides interventionalists with 3D-controlled bending. The average salary for Investor Relations Manager at companies like VARIAN MEDICAL SYSTEMS INC in the United States is $145,988 as of December 27, 2021, but the range typically falls between $117,383 and $165,695. 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. Patient-centered innovation has been and always will be at the core of our company. Non-GAAP net earnings per fully diluted share excludes the following items: Amortization of intangible assets: We do not acquire businesses and assets on a predictable cycle. [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. Both executives will report directly to Dow Wilson, Varian CEO. "introText": "", By signing up you agree to receive content from us. Varex shares were distributed at 12:01 PT on January 28, 2017 in a distribution that is intended to be tax-free for U.S. federal income tax purposes. 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. The transaction was completed via a distribution of Varex stock to Varian stockholders of record on January 20, 2017. Following the acquisition of Varian Medical Systems, Inc. the company has approximately 65,000 employees worldwide. The non-GAAP financial measures should not be considered in isolation from measures of financial performance prepared in accordance with GAAP. This press release includes the forward-looking non-GAAP financial measure, non-GAAP diluted net earnings per share. Kennedy will continue in her role as president, Proton Solutions and chief growth officer, in which capacity she will focus on incubating emerging technologies, including FLASH therapy and cardiac radioablation, as well as leading our acquisition integration office. Learn more about our purpose, our innovation leadership, our culture, and our strategy. "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. [26], On January 30, 2017, spin-off of Varex Imaging Corporation (manufacturing of X-ray imaging products) from Varian Medical Systems had been successfully completed. Varian has not filed its Form 10-K for the year ended September 27, 2019. The company supplies software for managing cancer clinics, radiotherapy centers, and medical oncology practices. Includes $29.7 million in hedging losses related to the Australian dollar purchase price for the anticipated Sirtex Medical Limited acquisition, partially offset by $9.0 million for the Sirtex breakup fee in fiscal year 2018. Represents the tax effect of a change in law related to the U.S. Tax Cuts and Jobs Act. This press release includes the following non-GAAP financial measures derived from our Condensed Consolidated Statements of Earnings: non-GAAP operating earnings, non-GAAP net earnings and non-GAAP net earnings per diluted share. Revenues for our Other segment were $17 million in the fourth quarter. Palo Alto, California. 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. 460 East Swedesford Road. Mike Bruff joined Varian two years ago with extensive finance, accounting and operational experience. For everyone. Everywhere. Nevertheless, automation in both quality assurance and clinical operation generally make the LINAC easier to operate by checkers and radiation therapists. Siemens Healthineers completes acquisition of Varian, strengthening its position as a holistic partner in healthcare, One Step Two Leaps. [23] and MeVis Medical Solutions AG. 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 system features unique dual-layer MLC that enables high modulation with low leakage for every field or arc. from 8 AM - 9 PM ET. Siemens Healthineers AG (Frankfurt: SHL) today announced that it has successfully completed the acquisition of Varian Medical Systems, Inc. ("Varian"). Forward-Looking Statements Except for historical information, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. About Varian Medical SystemsVarian Medical Systems focuses energy on saving lives and is the world's leading manufacturer of medical devices and software for treating and managing cancer.

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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 In member states of the European Economic Area ("EEA"), the placement of shares described in this announcement is only directed at persons who are 'qualified investors' within the meaning of Article 2(e) of the Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (as amended, the "Prospectus Regulation . We believe that disclosing non-GAAP financial measures provides useful supplemental data that, while not a substitute for financial measures prepared in accordance with GAAP, allows for greater transparency in the review of our financial and operational performance. These estimates and assumptions include revenue growth rates, operating margins and working capital needs to calculate projected future cash flows, WACC, future economic and market conditions, estimation of the long-term rate of growth for our business and determination of appropriate market comparables. Additionally, operational spend in our core businesses came in above expectations although this higher spend was partially offset by early momentum in our recent acquisitions. The amount of purchase price allocated to intangible assets and the term of amortization can vary significantly and are unique to each acquisition or purchase. PALO ALTO, Calif., Oct. 23, 2019 /PRNewswire/ -- Fourth Quarter 2019 Summary Oncology Systems gross orders grew 7% in dollars and 7% in constant currency; North America gross orders grew 10%; 17 Ethos orders received in Europe and Australia Total company revenues grew 10% in dollars, or 11% in constant currency, to $879 million Gains and losses on equity investments:We may incur gains and losses from the sale of our equity investments in privately-held companies. "introText": "", Includes $12.3 million, $1.9 million, $20.3 million and $6.5 million, respectively in cost of revenues for the periods presented. Discussion of Non-GAAP Financial Measures. 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. , . [7] After the merger it will continue to operate independently and will retain its headquarters along with its 10,000 employees. Historical business data for Varian Medical Systems Inc.: This page was last edited on 21 March 2023, at 05:38. At Varian, a Siemens Healthineers company, we envision a world without fear of cancer. 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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. Primarily includes $22.0 million gain on the sale of our investment in Augmenix in fiscal year 2019. FREMONT, Calif., May 31, 2023 (GLOBE NEWSWIRE) Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and production burn-in equipment, today announced the appointment of Chris Siu as the Company's Chief Financial Officer, Executive Vice President of Finance, and Secretary effective June 1, 2023.He will succeed Ken Spink, who previously announced his planned . We pioneer breakthroughs in healthcare. The combination with Varian. The company received two tariff exclusions in the fourth quarter. Discover the stories of pioneers pushing the boundaries of whats possible in healthcare to help improve peoples lives around the world. Siemens Healthineers also provides a range of services and solutions to enhance healthcare providers ability to provide high-quality, efficient care to patients. The Other segment is comprised of our interventional oncology business, including cryoablation, embolic microspheres, and microwave ablation, as well as our cardiac radioablation assets. On September 16, 2019, during the 2019 American Society for Radiation Oncology (ASTRO) annual meeting, being held Sept. 15-18 in Chicago, Varian announced Ethos therapy, an artificial intelligence (AI)-driven holistic solution[buzzword] designed to increase the capability, flexibility and efficiency of radiotherapy. The net benefit to operating earnings was $23 million, or $0.19 on a Non-GAAP earnings per share basis. Separately, Dr. Ruediger Naumann-Etienne and Dr. Eric R. Reinhardt have left the Varian board of directors to join the board of Varex Imaging, Inc. Varian has reduced the number of its board members to eight. Gross orders in the Americas were up 11% for the fourth quarter. 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. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. Such risks and uncertainties include global economic conditions; currency exchange rates and tax rates; 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; 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; the impact of reduced or limited demand by purchasers of certain X-ray products; challenges associated with commercializing the company's particle therapy 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 company's assessment of the goodwill associated with its particle therapy business; the potential loss of key distributors or key personnel; 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. During the quarter, the company invested $32 million to repurchase279,000 shares of common stock. Ms. Kennedy joined Varian in 1997 as Marketing Manager for radiation therapy delivery systems, and assumed other strategic roles including President of Varian Oncology Systems. "During his tenure as CFO, Gary reset resource and capital allocation to invest in organic and inorganic opportunities focused on driving long-term growth and value creation. 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 Impairment charges:We incur impairment charges that result from events, which arise from unforeseen circumstances and/or often occur outside of the ordinary course of our on-going business. The acquisition was previously announced on August 2, 2020. [28], The EDGE radiosurgery suite was launched in 2012.