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Varian (VAR) Acquires Radiotherapy Business of Candela
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Oncology treatment therapy provider, Varian Medical Systems recently announced the acquisition of the radiotherapy business of Candela – a distributor of radiotherapy equipment in Poland. The Warsaw-based company has more than 40 employees. It has also been representing Varian in Poland for the past 20 years.
The acquisition was approved by the Polish Competition Authority. Varian management expects the buyout to improve its presence in the Polish market. Currently, more than 80 Varian medical linear accelerators are installed in the country’s radiotherapy departments.
Of late, Varian has expanded in countries like Australia, Turkey and China along with others. The company is also expanding presence in Africa and the Middle East, which reflects its awareness about the growth opportunities in the regions. Moreover, the company is focusing on improving its hold in Latin America.
Varian’s strong overseas presence is expected to help the company cash in on the opportunities in emerging markets. Notably, the company recorded healthy gross order growth in emerging markets like Iran, Russia, Ethiopia, Burkina Faso and Libya in the recently concluded third quarter of fiscal 2016. In Africa, Varian won gross orders worth $25 million.
We believe that Varian’s oncology business growth prospects are impressive in these countries due to the strong demand for its products. The company is addressing both the tier 1 and mid-tier markets through its Edge, Truebeam and VitalBeam products. Moreover, the company believes that the Proton system has massive growth potential.
Headquartered in Palo Alto, CA, Varian is a leading provider of radiotherapy, radiosurgery, proton therapy and brachytherapy for the treatment of cancer and other medical conditions. It is also a premier supplier of X-Ray tubes for medical, scientific and industrial applications.
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Varian (VAR) Acquires Radiotherapy Business of Candela
Oncology treatment therapy provider, Varian Medical Systems recently announced the acquisition of the radiotherapy business of Candela – a distributor of radiotherapy equipment in Poland. The Warsaw-based company has more than 40 employees. It has also been representing Varian in Poland for the past 20 years.
The acquisition was approved by the Polish Competition Authority. Varian management expects the buyout to improve its presence in the Polish market. Currently, more than 80 Varian medical linear accelerators are installed in the country’s radiotherapy departments.
Of late, Varian has expanded in countries like Australia, Turkey and China along with others. The company is also expanding presence in Africa and the Middle East, which reflects its awareness about the growth opportunities in the regions. Moreover, the company is focusing on improving its hold in Latin America.
Varian’s strong overseas presence is expected to help the company cash in on the opportunities in emerging markets. Notably, the company recorded healthy gross order growth in emerging markets like Iran, Russia, Ethiopia, Burkina Faso and Libya in the recently concluded third quarter of fiscal 2016. In Africa, Varian won gross orders worth $25 million.
We believe that Varian’s oncology business growth prospects are impressive in these countries due to the strong demand for its products. The company is addressing both the tier 1 and mid-tier markets through its Edge, Truebeam and VitalBeam products. Moreover, the company believes that the Proton system has massive growth potential.
Headquartered in Palo Alto, CA, Varian is a leading provider of radiotherapy, radiosurgery, proton therapy and brachytherapy for the treatment of cancer and other medical conditions. It is also a premier supplier of X-Ray tubes for medical, scientific and industrial applications.
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Zacks Rank & Key Picks
Currently, Varian carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the medical sector are IDEXX Laboratories, Inc. (IDXX - Free Report) , Masimo Corporation (MASI - Free Report) and CryoLife Inc. . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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