The company has not filed an annual or quarterly report since its Q1 FY2021 10-Q, filed Feb 9, 2021. Its latest SEC filing is a 15-12B from Apr 26, 2021.
10-Q for Q1 FY2021, filed Feb 9, 2021
The sections below describe the company as of the FY2020 annual report.
Sells radiation-therapy equipment and software to hospitals, cancer clinics and medical practices, and provides cancer-care services and interventional oncology products.
10-K for FY2020, filed Nov 25, 2020Our Oncology Systems business designs, manufactures, sells and services hardware and software products for treating cancer with…View ↗
Our hardware products include linear accelerators, brachytherapy afterloaders, treatment accessories, AI-powered adaptive delivery systems…View ↗
Our software products span the cancer care continuum, starting with pre-treatment multi-disciplinary tumor boards and cancer treatment…View ↗
We offer services ranging from hardware phone support, break/fix repair of linear accelerators, obsolescence protection of hardware…View ↗
In fiscal year 2019, we entered the interventional oncology market with our acquisitions of Endocare, Inc ("Endocare"), Alicon…View ↗
Hardware is the largest revenue line: hospitals and clinics buy radiotherapy and proton-therapy systems, often with software and installation, and invoices follow milestones such as signing, shipment, delivery, acceptance or service start. Varian also sells software licenses and earns service income from repairs, replacement parts and support contracts.
10-K for FY2020, filed Nov 25, 2020The Company's Oncology Systems linear accelerators are generally sold in a bundled arrangement with hardware and software accessory…View ↗
Payment terms and conditions vary by contract type, although the terms are generally commensurate with a significant milestone, such as…View ↗
(1)Includes software support agreements that are recorded in revenues from service, and software licenses that are recorded in revenues…View ↗
We also have field service personnel throughout the world for Oncology Systems customer support services. Key Oncology Systems education…View ↗
$3.2B
10-K for FY2020, filed Nov 26, 2020
$3.2B ↗| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Hardware
Sold outright
|
42%
FY2017: 46%
|
Hardware, FY2020
$1.3B Sources
|
Sold outright |
|
Software
|
19%
FY2017: 18%
|
Software, FY2020
$598.7M Sources
|
|
|
Service
|
39%
FY2017: 36%
|
Service, FY2020
$1.2B Sources
|
Hospitals and cancer clinics, healthcare agencies, and physicians’ and oncology practices buy its systems. Sales are direct in the United States and Canada, while international sales use a mix of direct sales and independent distributors; Siemens also represents products in agreed countries.
10-K for FY2020, filed Nov 25, 2020We employ a combination of a direct sales force and independent distributors or resellers for the marketing and sales of our products…View ↗
Our Oncology Systems business sells direct in the United States and Canada and uses a combination of direct sales and independent…View ↗
We sell our Oncology Systems products primarily to university research and community hospitals, private and governmental institutions…View ↗
Yes. It kept 8 cents of every revenue dollar as net income in FY2020 and turned 13 cents into free cash flow.
10-K for FY2020, filed Nov 26, 2020
$323.2MView ↗
10-K for FY2020, filed Nov 26, 2020
$269.2MView ↗
10-K for FY2020, filed Nov 26, 2020
$399.8MView ↗
10-Q for Q1 FY2021, filed Feb 9, 2021
Open tableView ↗
8-K, filed Apr 15, 2021
On April 15, 2021, Parent completed the acquisition of the Company. Pursuant to the Merger Agreement, Merger Sub merged with and into the…View ↗
8-K, filed Mar 8, 2021
On March 4, 2021, J. Michael Bruff notified Varian Medical Systems, Inc. (the “Company”) that he would be resigning as Chief Financial…View ↗
8-K, filed Mar 2, 2021
On March 2, 2021, the Company announced that Dow Wilson, the Company’s Chief Executive Officer, will be departing the Company at the…View ↗
Grew. Revenue grew 22% in 4 years, from $2.6B in FY2016 to $3.2B in FY2020, about 5% a year.
Interventional products
The older description focuses on radiation and proton therapy systems; the latest also describes interventional oncology and radiology products, including ablation and embolization.
10-K for FY2017, filed Nov 27, 2017 10-K for FY2020, filed Nov 25, 2020In fiscal year 2019, we entered the interventional oncology market with our acquisitions of Endocare, Inc ("Endocare"), Alicon…View ↗
Direct cancer-care operations
The older overview presents Varian as a maker and seller of cancer-care systems; the latest also describes operating cancer centers and a hospital and providing clinical services to healthcare providers.
10-K for FY2017, filed Nov 27, 2017 10-K for FY2020, filed Nov 25, 2020
Competes with Elekta, Accuray, ViewRay, Sun Nuclear, Standard Imaging, Vision RT, Brainlab, C-RAD, Philips Medical Systems, MIM Software, RaySearch Laboratories, Best Theratronics, Eckert & Ziegler BEBIG, Hitachi Heavy Industries, Ion Beam Applications, Mevion Medical Systems, Boston Scientific, Cook Medical, Medtronic, and Merit Medical Systems
10-K for FY2020, filed Nov 25, 2020We are the leading provider of medical linear accelerators and related accessories. In the radiotherapy and radiosurgery markets, we…View ↗
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