
Varian Medical Systems
Investments
15Portfolio Exits
6Partners & Customers
10Service Providers
1About 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.

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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
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.

Varian Medical Systems Investments Activity

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 | Johnson & Johnson Innovation, Lumira Ventures, State of Wisconsin Investment Board, Undisclosed Investors, Varian Medical Systems, Venture Investors, and Yonjin Venture | 6 |
5/6/2020 | Series C | Arterys | $28M | No | 2 | |
1/1/2020 | Corporate Minority | |||||
9/16/2019 | Corporate Minority |
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 | ||
Amount | $10M | $40M | $28M | ||
New? | No | No | No | ||
Co-Investors | Johnson & Johnson Innovation, Lumira Ventures, State of Wisconsin Investment Board, Undisclosed Investors, Varian Medical Systems, Venture Investors, and Yonjin Venture | ||||
Sources | 6 | 6 | 2 |
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.
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 | $0.25M | Acquired | 3 | ||
9/26/2023 | Acquired | 2 | ||||
7/2/2019 | Acquired Unit | 1 | ||||
6/12/2019 | ||||||
6/10/2019 |
Date | 9/26/2023 | 9/26/2023 | 7/2/2019 | 6/12/2019 | 6/10/2019 |
---|---|---|---|---|---|
Investment Stage | Debt | ||||
Companies | |||||
Valuation | |||||
Total Funding | $0.25M | ||||
Note | Acquired | Acquired | Acquired Unit | ||
Sources | 3 | 2 | 1 |
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 | `` 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 | Adaptiiv, and Hewlett-Packard | 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 | ||||
4/28/2022 | Partner |
Date | 2/17/2023 | 2/17/2023 | 5/11/2022 | 5/5/2022 | 4/28/2022 |
---|---|---|---|---|---|
Type | Client | Client | Partner | Partner | Partner |
Business Partner | Adaptiiv, and Hewlett-Packard | ||||
Country | Canada | Canada | Canada, and United States | ||
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 . | `` 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 . | ||
Sources | 2 | 1 | 2 |
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 |
Name | Joseph R. Steele | ||||
---|---|---|---|---|---|
Work History | Boston Scientific, and Covalent Radiology | ||||
Title | Chief Medical Officer | ||||
Status | Current |
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