Varian Medical Systems, Inc. (VAR - Free Report) recently announced that Goshen Center for Cancer Care in Goshen treated its first patient with Ethos Therapy. This marks the first availability of this advanced cancer treatment in Indiana.
Notably, Goshen Center of Cancer Care is the second provider in the United States and the only provider in the state of Indiana to offer Ethos Therapy.
This announcement is anticipated to strengthen Varian’s Oncology Systems segment and enhance its exposure to Artificial Intelligence (AI).
Details About Ethos Therapy
Varian’s Ethos Therapy system brings together an image-guided radiation therapy (IGRT) powerhouse with AI adaptive capabilities in one system, thereby building workflow efficiencies, which can benefit both patient and clinician. This new solution has been developed to deliver an entire adaptive treatment in a typical 15-minute timeslot. This starts from patient setup through treatment delivery, hence making it ideal for a busy center.
By combining multi-modality images with an AI-driven Adaptive Intelligence solution, Ethos Therapy can offer personalized, patient-centric care.
Significance of Ethos Therapy System
Ethos Therapy brings in adaptive therapy that can personalize patient’s treatment based on their anatomy and position at the time of treatment. The main aim is to target the tumor in a better way, thereby enabling more customized margins and potentially boosting overall outcomes resulting in a reduction of dose to healthy tissue.
Ethos therapy system has the ability to ensure that advanced treatment approaches become accessible to any patient irrespective of their proximity to major metropolitan cities or academic medical centers. On the back of this system, adaptive therapy has to potential to move from a specialty offering by large centers to mainstream caregiving. Also, Ethos Therapy offers the flexibility to choose adaptive or non-adaptive therapy to maximize operational efficiencies.
With expanding access to personalized cancer care, Varian continues to move closer to its goal of creating a world without fear of cancer.
This month, Varian announced that Proton Therapy Pte. Ltd. has become the first to bring Halcyon system — an innovative treatment platform — into Singapore with its order for the same. Notably, Proton Therapy Pte intends to treat its first patient with the same by the end of 2020. The Halcyon radiotherapy treatment system has been designed to offer cost-effective cancer care worldwide. The system streamlines every aspect of image-guided volumetric intensity modulated radiotherapy (IMRT).
In May 2020, Varian launched new features for its Noona software application — a powerful tool developed to engage cancer patients in their continuous reporting and symptom monitoring processes. Noona offers cancer care teams in-app features such as patient screening, real-time symptom reporting, secure care team messaging, telephone triage workflow automation, and patient access to medical records, thereby helping them with the new short and long-term healthcare changes resulting from the coronavirus pandemic.
Per a report by Grand View Research, the global cancer diagnostics market size was valued at $144.4 billion in 2018 and is expected see a CAGR of 7% over the forecast period (2019-2026). Rising prevalence of oncologic cases, technological advancements in diagnostics, and growing demand for effective screening tests are some of the primary factors driving the market.
Shares of this Zacks Rank #3 (Hold) company have gained 44.7%, compared with the industry’s growth of 18.3% in a year’s time.
Stocks to Consider
Some better-ranked stocks from the broader medical space include West Pharmaceutical Services, Inc. (WST - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and PerkinElmer, Inc. (PKI - Free Report) . While PerkinElmer sports a Zacks Rank of 1 (Strong Buy), both Thermo Fisher and West Pharmaceuticals carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PerkinElmer has a projected long-term earnings growth rate of 17.4%.
West Pharmaceutical has a projected long-term earnings growth rate of 17.4%.
Thermo Fisher has an estimated long-term earnings growth rate of 15%.
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