Back to top

Image: Bigstock

Varian Medical Opens Office in South Africa, Expands in EMEA

Read MoreHide Full Article

Varian Medical Systems, Inc. recently opened its permanent office in Hertford Office Park, Midrand, Johannesburg, South Africa. In a bid to improve cancer care in the EMEA region, the company is also offering advanced education courses across the country in collaboration with Groote Schuur Hospital. This further consolidates the MedTech giant’s global foothold.

How Can Varian Medical Gain?

Per CANSA, 100,000 South Africans are diagnosed with cancer each year. Environmental and lifestyle factors like smoking or unhealthy diet are factors behind high incidence of the disease.

In fact, the global cancer diagnostics market is expected to reach $249.6 billion, witnessing a CAGR of 7% between 2019 and 2026.

Undoubtedly, the latest development represents a significant growth opportunity for Varian Medical.

Varian Medical in EMEA

Apart from enjoying a solid presence in Asia Pacific and Latin America, Varian Medical has seen a slew of developments in EMEA of late.

Last month, the Varian-equipped Danish Center for Particle Therapy officially opened at the Aarhus University Hospital in Aarhus, Denmark.

Additionally, the NSIA-LUTH Cancer Treatment Centre in Nigeria was equipped with a Halcyon treatment system and two VitalBeam radiotherapy systems.

Last December, Switzerland-based Paul Scherrer Institute Center for Proton Therapy began utilizing Varian Medical’s flagship Eclipse treatment planning system for intensity modulated proton therapy treatments. (Read More: Varian Medical's Eclipse Picked by Paul Scherrer Institute)

In recent past, management at Varian Medical announced that the company was selected by South Africa's largest private radiation oncology provider — Medical Specialist Holdings — to equip seven of its centers with Varian Linux and Eclipse treatment planning software.

It is encouraging to note that the company saw its sixth consecutive quarter of double-digit growth in the EMEA region lately. The uptick was driven by emerging markets and public tender wins.

Price Performance

In a year’s time, shares of this Zacks Rank #2 (Buy) stock have rallied 16.6% compared with the industry’s 15.5% growth. The current level also compares favorably with the S&P 500 index’s 8.6% gain.

Other Key Picks

Other top-ranked stocks in the broader medical space are, ABIOMED , Masimo Corporation (MASI - Free Report) and Penumbra, Inc. (PEN - Free Report) , each carrying a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ABIOMED’s long-term earnings growth rate is projected at 27.7%.

Masimo’s long-term earnings are expected to grow 15.6%.

Penumbra’s long-term earnings growth rate is 20.9%.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.

This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.

See their latest picks free >>


Unique Zacks Analysis of Your Chosen Ticker


Pick one free report - opportunity may be withdrawn at any time


Masimo Corporation (MASI) - $25 value - yours FREE >>

Penumbra, Inc. (PEN) - $25 value - yours FREE >>

Published in