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Varian Medical Systems company logo
Corporation
HEALTHCARE | Medical Devices & Equipment / Therapeutic Devices
varian.com

Investments

15

Portfolio Exits

6

Partners & Customers

10

Service Providers

1

About Varian Medical Systems

Varian Medical Systems (NYSE: VAR) manufactures medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers, and medical oncology practices. Varian is a supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications, and X-ray imaging products for cargo screening and industrial inspection.

Headquarters Location

3100 Hansen Way

Palo Alto, California, 94304,

United States

650-493-4000

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Research containing Varian Medical Systems

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CB Insights Intelligence Analysts have mentioned Varian Medical Systems in 1 CB Insights research brief, most recently on Mar 21, 2022.

Latest Varian Medical Systems News

Cutting-edge cancer imaging tool allows doctors to efficiently adapt radiotherapy treatment

Sep 29, 2023

Cutting-edge cancer imaging tool allows doctors to efficiently adapt radiotherapy treatment Varian First patient treated on radiotherapy system equipped with HyperSight imaging solution at Icon Cancer Centre MELBOURNE, Australia, Sept. 29, 2023 /PRNewswire/ -- An innovative technology that captures high-quality images of a tumor in six seconds is being used to guide cancer treatments for patients receiving care at the Icon Cancer Centre Holmesglen. Icon is one of the first centres in the Southern Hemisphere to install the HyperSight imaging solution on its Halcyon linear accelerator. HyperSight uses cone-beam computed tomography (CBCT) to deliver images with a high level of contrast. It can capture a larger area with improved image quality, precision, and speed compared to conventional imaging technology on radiotherapy systems, potentially minimizing patient discomfort and anxiety during treatment. Traditional radiotherapy imaging systems can take up to 60 seconds and can require patients to hold their breath to capture a clear image. This is to prevent the tumor from moving during the scan, which is common in lung, liver, and left breast cancer patients. HyperSight reduces motion-related image blurring, resulting in clearer images at the point of treatment. Data from HyperSight images show how radiotherapy treatment is changing the tumor and surrounding anatomy. The enhanced quality of CBCT images can be used to calculate changes to both the tumor and nearby organs with greater precision. Previously, calculations were limited by image quality or required a CT scan on a separate machine, potentially adding to the time the patient needs to stay in hospital. Icon Group Director of Radiation Therapy, Claire Smith, said the technology is making a difference. "We can pinpoint and map tumors in the patient almost in real time," said Claire. "In its early stages, we're already seeing great benefits for our clinical teams and patients and are looking forward to rolling out HyperSight across Australia cancer centres, and beyond." "We are still assessing the impact it is having on our clinical workflows, like preventing unnecessary trips to a CT scanner, and reducing the time a patient needs to be on the treatment bed. Having this capability on the machine in the treatment room is already proving positive with our radiation therapists." "Our global collaboration with Varian helps us remain well equipped to provide our patients with the latest in radiation therapy treatments. Our goal is to deliver the best possible care and a better quality of life." HyperSight was developed by Varian, a Siemens Healthineers company. It received TGA approval for use on Varian's Ethos and Halcyon image-guided radiotherapy systems in February this year. VARIAN, HYPERSIGHT, ETHOS, and HALCYON are trademarks of Varian Medical Systems, Inc., pending or registered U.S. Pat. & Tm. Off. About Icon Group Icon Group is 'Australia's largest dedicated provider of cancer care with a growing reach in New Zealand and Asia. The group brings together all aspects of quality cancer care including medical oncology, haematology, radiation oncology, research, pharmacy and compounding to deliver a truly integrated, end-to-end seamless service for cancer patients. With a network of over 300 doctors, 50 cancer centres, four compounding facilities and the management of over 70 pharmacies, Icon is proudly at the forefront of addressing the global cancer burden. Icon is built on a strong but simple mission - to deliver the best care possible to as many people as possible, as close to home as possible. For more information visit www.icongroup.global and follow Icon Group on LinkedIn at https://www.linkedin.com/company/icon-group About Varian  At Varian, a Siemens Healthineers company, we envision a world without fear of cancer. For more than 75 years, Varian has developed, built, and delivered innovative technologies and solutions that help care providers around the globe treat millions of patients each year. Today, as a Siemens Healthineers company, we support every step of the cancer care journey – from screening to survivorship. From advanced imaging and radiation therapy, to comprehensive software and services, to interventional radiology, we are harnessing the power of our perspective while also pursuing clinical research to create a more efficient, and more personalized care pathway. Because, for cancer patients everywhere, their fight is our fight. For more information, visit http://www.varian.com. Press Contacts

Varian Medical Systems Investments

15 Investments

Varian Medical Systems has made 15 investments. Their latest investment was in COTA as part of their Convertible Note on November 11, 2020.

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Varian Medical Systems Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/10/2020

Convertible Note

COTA

$10M

No

6

6/8/2020

Series C - II

HistoSonics

$40M

No

6

5/6/2020

Series C

Arterys

$28M

No

2

1/1/2020

Corporate Minority

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$99M

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10

9/16/2019

Corporate Minority

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$99M

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10

Date

11/10/2020

6/8/2020

5/6/2020

1/1/2020

9/16/2019

Round

Convertible Note

Series C - II

Series C

Corporate Minority

Corporate Minority

Company

COTA

HistoSonics

Arterys

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Amount

$10M

$40M

$28M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

6

6

2

10

10

Varian Medical Systems Portfolio Exits

6 Portfolio Exits

Varian Medical Systems has 6 portfolio exits. Their latest portfolio exit was GRAIL on August 18, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/18/2021

Acquired

$99M

36

6/26/2020

IPO

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$99M

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10

12/12/2018

Acquired

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$99M

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10

1/30/2017

IPO

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$99M

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0

1/29/2017

Spinoff / Spinout

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$99M

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10

Date

8/18/2021

6/26/2020

12/12/2018

1/30/2017

1/29/2017

Exit

Acquired

IPO

Acquired

IPO

Spinoff / Spinout

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

36

10

10

0

10

Varian Medical Systems Acquisitions

23 Acquisitions

Varian Medical Systems acquired 23 companies. Their latest acquisition was Aspekt Solutions on September 26, 2023.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

9/26/2023

Debt

$99M

$0.25M

Acquired

3

9/26/2023

$99M

Acquired

2

7/2/2019

$99M

Acquired Unit

1

6/12/2019

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$99M

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10

6/10/2019

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$99M

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10

Date

9/26/2023

9/26/2023

7/2/2019

6/12/2019

6/10/2019

Investment Stage

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$0.25M

Note

Acquired

Acquired

Acquired Unit

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Sources

3

2

1

10

10

Varian Medical Systems Partners & Customers

10 Partners and customers

Varian Medical Systems has 10 strategic partners and customers. Varian Medical Systems recently partnered with Nova Scotia Health Authority on February 2, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

2/17/2023

Client

Canada

Varian Collaborating with Nova Scotia Health to Transform Cancer Care

PALO ALTO , Calif. , Feb. 17 , 2023 / PRNewswire / -- Varian , a Siemens Healthineers company , has entered into an agreement with Nova Scotia Health to lead the digital transformation of the health system 's comprehensive oncology service line .

2

2/17/2023

Client

Canada

Nova Scotia Health Innovation Hub. Nova Scotia Health launches first-in-Canada technology that brings together oncology information in real time

`` This agreement with Nova Scotia Health Innovation Hub reflects our commitment to collaborating with providers to streamline workflows and embed digitization , quality , and simplicity into every step of the care journey , '' said Andrew Shogan , President of Multi-Disciplinary Oncology at Varian .

1

5/11/2022

Partner

Canada, and United States

Adaptiiv, HP and Varian personalizing radiotherapy via 3D printing collab

Adaptiiv Medical Technologies has partnered with HP Inc. and Varian , a Siemens Healthineers company , to create more patient-specific 3D printing technology that personalizes cancer care for U.S. patients .

2

5/5/2022

Partner

Australia

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10

4/28/2022

Partner

Australia

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10

Date

2/17/2023

2/17/2023

5/11/2022

5/5/2022

4/28/2022

Type

Client

Client

Partner

Partner

Partner

Business Partner

Country

Canada

Canada

Canada, and United States

Australia

Australia

News Snippet

Varian Collaborating with Nova Scotia Health to Transform Cancer Care

PALO ALTO , Calif. , Feb. 17 , 2023 / PRNewswire / -- Varian , a Siemens Healthineers company , has entered into an agreement with Nova Scotia Health to lead the digital transformation of the health system 's comprehensive oncology service line .

Nova Scotia Health Innovation Hub. Nova Scotia Health launches first-in-Canada technology that brings together oncology information in real time

`` This agreement with Nova Scotia Health Innovation Hub reflects our commitment to collaborating with providers to streamline workflows and embed digitization , quality , and simplicity into every step of the care journey , '' said Andrew Shogan , President of Multi-Disciplinary Oncology at Varian .

Adaptiiv, HP and Varian personalizing radiotherapy via 3D printing collab

Adaptiiv Medical Technologies has partnered with HP Inc. and Varian , a Siemens Healthineers company , to create more patient-specific 3D printing technology that personalizes cancer care for U.S. patients .

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Sources

2

1

2

10

10

Varian Medical Systems Service Providers

1 Service Provider

Varian Medical Systems has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Corporate Majority - P2P

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Corporate Majority - P2P

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

Varian Medical Systems Team

7 Team Members

Varian Medical Systems has 7 team members, including current Chief Medical Officer, Joseph R. Steele.

Name

Work History

Title

Status

Joseph R. Steele

Boston Scientific, and Covalent Radiology

Chief Medical Officer

Current

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Name

Joseph R. Steele

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Work History

Boston Scientific, and Covalent Radiology

Title

Chief Medical Officer

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Status

Current

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