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Varian Medical Systems

Logo: Varian Medical Systems, Public domain, via Wikimedia Commons5

American healthcare company

Varian Medical Systems is an American radiation oncology treatments and software maker based in Palo Alto, California. Their medical devices include linear accelerators (LINACs) and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies software for managing cancer clinics, radiotherapy centers, and medical oncology practices.3 Its chief executive is Arthur Kaindl (since 2023).1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1948Founded1

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  • TickerVAR on NYSE1
  • Industrymedical technology1
  • HeadquartersPalo Alto1
  • Websitewww.varian.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address3100 Hansen Way, Building 4A, Palo Alto, Ca 94304-10386
  • Filer categoryLarge accelerated filer6
  • LEITK3LAKL7I0QNTCVWSY074
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 8205574

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Varian Medical Systems HQ 2
Photo: BrokenSphere, CC BY 3.0, via Wikimedia Commons8

Varian Medical Systems is an American radiation oncology treatments and software maker based in Palo Alto, California. Their medical devices include linear accelerators (LINACs) and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies software for managing cancer clinics, radiotherapy centers, and medical oncology practices. Varian Medical Systems employs more than 7,100 people at manufacturing sites in North America, Europe, and China and approximately 70 sites globally.3

Corporate structure

Varian Medical Systems is part of a group headed by Siemens. 618 entities, 60 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.

What it owns

What Varian Medical Systems reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land and buildings$44.2M9 Sep 27, 2019$44.2M9 Sep 28, 20180%
Buildings and improvements$242.5M9 Sep 27, 2019$227.0M9 Sep 28, 2018+6.8%
Machinery and equipment$456.2M9 Sep 27, 2019$404.0M9 Sep 28, 2018+12.9%
Construction in progress$42.9M9 Sep 27, 2019$28.6M9 Sep 28, 2018+50.0%
Property and equipment, before depreciation$785.8M9 Sep 27, 2019$703.8M9 Sep 28, 2018+11.7%
Accumulated depreciation$474.3M9 Sep 27, 2019$429.2M9 Sep 28, 2018+10.5%
Property and equipment, net$344.9M10 Oct 2, 2020$311.5M10 Sep 27, 2019+10.7%
Finance-lease assets$11.5M10 Oct 2, 2020
Operating-lease assets (leased space)$121.0M10 Oct 2, 2020$010 Sep 27, 2019

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$766.1M10 Oct 2, 2020$531.4M10 Sep 27, 2019+44.2%
Marketable securities, current$09 Sep 27, 2019$39.4M9 Sep 28, 2018−100.0%
Marketable securities, non-current$44.6M10 Oct 2, 2020$58.2M10 Sep 27, 2019−23.4%
Debt securities available for sale$44.9M10 Oct 2, 2020$58.8M10 Sep 27, 2019−23.6%
Equity securities at fair value$34.4M10 Oct 2, 2020$010 Sep 27, 2019

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$623.9M10 Oct 2, 2020$612.2M10 Sep 27, 2019+1.9%
Intangible assets, net (excluding goodwill)$271.3M10 Oct 2, 2020$300.7M10 Sep 27, 2019−9.8%
Indefinite-lived intangibles (excluding goodwill)$12.3M10 Oct 2, 2020$12.7M10 Sep 27, 2019−3.1%
Finite-lived intangibles, gross$417.7M10 Oct 2, 2020$408.7M10 Sep 27, 2019+2.2%
Accumulated amortization$158.7M10 Oct 2, 2020$120.7M10 Sep 27, 2019+31.5%
Finite-lived intangibles, net$259.0M10 Oct 2, 2020$288.0M10 Sep 27, 2019−10.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$516.3M10 Oct 2, 2020$551.5M10 Sep 27, 2019−6.4%
Work in process$82.0M10 Oct 2, 2020$71.8M10 Sep 27, 2019+14.2%
Finished goods$111.4M10 Oct 2, 2020$103.2M10 Sep 27, 2019+7.9%

The story

Varian was founded in 1948 as Varian Associates by Russell H. Varian, Sigurd F. Varian, William Webster Hansen, and Edward Ginzton to sell the Klystron, the first tube which could generate electromagnetic waves at microwave frequencies, and other electromagnetic equipment.

By 1999, Varian Associates had branched into semiconductor, vacuum tube, and medical device fields. On April 2, 1999, these divisions split to become Varian Semiconductor, Varian, Inc., and Varian Medical Systems.

In April 2021, Siemens Healthineers acquired Varian Medical Systems in an all-stock deal valued at $16.4 billion.

Acquired companies

Before its acquisition by Siemens Healthineers, Varian Medical Systems had acquired other companies, including Pan-Pacific Enterprises, ACCEL Instruments, Bio-Imaging Research, Inc. Sigma Micro Informatique Conseil, Argus Software, Dosetek Oy, Velocity Medical Solutions. and MeVis Medical Solutions AG.

In January 2018, the company announced the acquisition of Sirtex Medical for $1.3 billion.

In 2019, the company acquired CyberHeart, a privately held company with intellectual property (IP) that covers the use of radiation in the heart (cardiac radioablation) and other forms of radiosurgery for cardiovascular disease.

Spin-off companies

On January 30, 2017, a spin-off of Varex Imaging Corporation (manufacturing of X-ray imaging products) from Varian Medical Systems had been successfully completed.

From Wikipedia’s article on Varian Medical Systems, shared under CC BY-SA 4.0.7

Leadership

Who has led Varian Medical Systems, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Timothy E. Guertin2006–2012
  2. Dow R. Wilson2012–2021
  3. Arthur Kaindl2023–now

President

  1. Timothy E. Guertin2006–2012
  2. Dow R. Wilson2012–2021

Chief financial officer

  1. Elisha W. Finney2006–2017
  2. Gary E. Bischoping Jr.2017–2019
  3. Jesse Michael Bruff2019–2021

Chief operating officer

  1. Dow R. Wilson2011–2012
197019801990200020102020
Board members and other officers (31)

Products and brands

  • medical device

Listed on Wikidata.1

Linear accelerators

Varian manufactures a range of megavoltage LINACs with varying levels of features and complexity, for example different numbers of multileaf collimators or the ability to perform radiosurgery.

TrueBeam is a radiotherapy system.

The EDGE radiosurgery suite was launched in 2012. The first cancer centers to use the new system were the Champalimaud Foundation in Lisbon, Portugal, and Henry Ford Health System in Detroit, Michigan.

Halcyon

In 2017, Varian launched Halcyon. The system features unique dual-layer MLC that enables high modulation with low leakage for every field or arc. Halcyon is advertised to be intuitive, friendly and comfortable for clinical staff and patient alike. This is primarily done by automating several functions typically performed manually by radiographers, such as switching between treatment beams automatically. Additionally, Halcyon also features an automated machine performance check for daily LINAC quality assurance, which can speed up the checking of beam constancy and mechanical performance through the use of a phantom.

Read the full text

However, while Halcyon does boast improved automation and workflow improvements which allow for faster patient treatment, these extra automation tasks can make occasionally make it more difficult for medical physicists to perform detailed Quality Assurance on LINAC performance. Nevertheless, automation in both quality assurance and clinical operation generally make the LINAC easier to operate by checkers and radiation therapists.

Proton Therapy

Varian manufactures the ProBeam Proton Therapy System, with current and planned installations at several sites globally. These are an all pencil-beam scanning proton therapy system utilizing IMPT (intensity modulated proton therapy), which was developed with PSI of Switzerland. Varian also develops medical software and radiology information system for proton treatment planning system.

Ethos Therapy

On September 16, 2019, during the 2019 American Society for Radiation Oncology (ASTRO) annual meeting, being held Sept. 15–18 in Chicago, Varian announced Ethos therapy, an artificial intelligence (AI)-driven system designed to increase the capability, flexibility and efficiency of radiotherapy. This new system is designed to deliver an entire adaptive treatment in a typical 15-minute timeslot, from patient setup through treatment delivery.

From Wikipedia’s article on Varian Medical Systems, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Subsidiaries

  • Varian Medical Systems (Canada)
  • Varian Medical Systems (Germany)
  • Varian Medical Systems (Switzerland)
  • Varian Medical Systems (United Kingdom)

Parent company (GLEIF)

Ultimate parent

From Wikidata.1 Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Former names

  • VARIAN ASSOCIATES INC /DE/Oct 20, 1994 to Apr 19, 19996

Timeline

  1. May 2023New chief executive Arthur Kaindl becomes CEO1
  2. Feb 4, 2022Parent Directly consolidated by Siemens Healthineers4
  3. Nov 2, 2012New chief executive Dow R. Wilson becomes CEO11
  4. Nov 3, 2006New chief executive Timothy E. Guertin becomes CEO12
  5. 1948Founded Founded1

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Apr 15, 2021Christopher L. Jacobs, HouseSale$1,001 - $15,000Report
Apr 15, 2021Dean Phillips, HouseSale$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Varian Medical Systems is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARVARIAN MEDICAL SYSTEMS INC2
  • CIK0000203527
  • Employer ID (EIN)94-23593452
  • Filer statusLarge accelerated filer2
  • Incorporated inDelaware2
  • Fiscal year endsOctober 12
  • Industry code (SIC)3845 Electromedical & Electrotherapeutic Apparatus2
  • Business address3100 Hansen Way, Building 4A, Palo Alto, CA 94304-10382
  • Phone650-493-40002
  • Shares outstanding91,838,813 as of Jan 29, 202149
  • Public float$6.9B as of Apr 3, 202050
  • On EDGAR sinceFeb 10, 19942
  • Filings2,040 in all: 4 (1,330), 8-K (255), 10-Q (82), SC 13G/A (69), DEFA14A (33), 3 (31), SC 13G (28), DEF 14A (27)2
    All 38 form types

    10-K (24), 11-K (17), 8-K/A (16), S-8 (15), S-8 POS (15), ARS (14), UPLOAD (11), 4/A (9), 8-A12B/A (9), CT ORDER (7), SD (7), CORRESP (6), 10-K/A (4), 10-K405 (3), DFAN14A (3), SC 13E4/A (3), 10-Q/A (2), 25-NSE (2), 3/A (2), 5 (2), 8-A12B (2), 8-A12G/A (2), PRE 14A (2), SC 13D (2), 15-12B (1), DEFM14A (1), NT 11-K (1), PREM14A (1), S-3ASR (1), SC 13E4 (1)

  • Latest filingsAnnual report (10-K) Nov 25, 2020
    Quarterly report (10-Q) Feb 9, 2021
    Proxy statement (DEF 14A) Dec 20, 2019
    Latest 8-K (8-K) Apr 15, 2021

Sources

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