Varian Medical Systems, Inc. (VAR - Free Report) recently announced that it has received Germany’s first order of Ethos therapy from the German Cancer Research Center (DKFZ) in Heidelberg. Notably, the first Ethos therapy in Germany is set to be installed and will commence treatment of patients by early 2021.
This announcement is anticipated to strengthen Varian’s Oncology Systems segment and enhance its exposure to Artificial Intelligence (AI). Moreover, it is likely to expand the company’s geographic footprint, with respect to the adoption of Ethos therapy.
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 boosts the capacity, flexibility and efficiency of radiotherapy and in this scenario can complement both the research and treatment activities at DKFZ in order to implement adaptive radiotherapy.
Since the launch in September 2019, Ethos therapy has been gaining prominence with recognition from leading clinics globally. Ethos therapy has been hailed as a game changer when it comes to breaking new grounds with regard to personalized adaptive radiation therapy.
With DKFZ — the largest biomedical center in Germany — choosing Ethos to conduct both research and adaptive radiotherapy and put their research directly into practice strengthens Varian’s commitment toward creating a world without fear of cancer.
This month, Varian 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.
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 has gained 47.7%, compared with the industry’s growth of 18.5% 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 both PerkinElmer and Thermo Fisher sport a Zacks Rank of 1 (Strong Buy), West Pharmaceuticals carries 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%.
Thermo Fisher has an estimated long-term earnings growth rate of 15%.
West Pharmaceutical has a projected long-term earnings growth rate of 17.4%.
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