Terumo Corp. (TYO:4543) said yesterday it tapped Rob DeRyke as its new CV group prez & CEO, effective April 1, 2017, succeeding a retiring Mark Sutter. Prior to his appointment, DeRyke operated as Terumo CV group electromechanical systems division prez, the company said. “Under his leadership, Rob brought stability and improved profitability to the business,” Terumo […]
Varian Medical Systems
Varian Medical, Elekta bury the hatchet in radiosurgery spat
Varian Medical (NYSE:VAR) and Elekta (STO:EKTA B) said yesterday that they agreed to bury the hatchet in their patent infringement war over radiosurgery technology. The agreement covers litigation in the U.S., Germany and the U.K. and includes a lawsuit brought by Elekta and William Beaumont Hospital in Royal Oak, Mich., Varian and Elekta said. The settlement did not involve […]
Varian Medical closes $600m Varex Imaging spinout
Varian Medical (NYSE:VAR) today announced it successfully completed the $600 million spin-out of its imaging components biz, Varex Imaging (NSDQ:VREX). Salt Lake City, Utah-based Varex Medical said that common stock in the company will begin trading in the “regular way” today on the Nasdaq Global Select Market under the symbol “VREX.” “We are very pleased that we […]
Varian shares droop on Q1 miss
Shares in Varian Medical (NYSE:VAR) fell today after the medical device maker missed expectations on Wall Street with its 1st quarter earnings. The Palo Alto, Calif.-based company posted profits of $21 million, or 22¢ per share, on sales of $763.3 million for the 3 months ended December 30. That amounts to a bottom-line slide of 76.4% […]
Varian Medical’s components spinout, Varex Imaging, begins public trading
Shares in Varex Imaging (NSDQ:VREXV), the $600 million components business spun out of Varian Medical (NYSE:VAR), hit the market last week for their 1st day of public trading. Stock in Salt Lake City-based Varex debuted Jan. 20 at $28 apiece, hitting a high of $28.50 before closing up 0.5% at $28.15 per share. Varian said earlier this month that it expects […]
Varian Medical details Varex Imaging components spinout
Varian Medical (NYSE:VAR) said today that its board of directors approved the $200 million spin-out of the stand-alone Varex imaging components business and released more information on the distribution of Varex shares. The Palo Alto, Calif.-based company’s new spin-out will be separated through a tax-free distribution of shares, with each Varian stockholder receiving 0.4 shares of Varex […]
Varian Medical Systems puts up $276m for PerkinElmer’s medical imaging biz
Varian Medical (NYSE:VAR) said today that it agreed to put up $267 million to acquire the medical imaging business of PerkinElmer Inc. (NYSE:PKI) for the planned spinout of its Varex imaging components unit next month. The 280-worker PerkinElmer segment is an OEM business that makes digital flat panel X-ray detectors for industrial, medical, dental and veterinary X-ray imaging systems. Varian said […]
Varian to receive $200m from Varex Imaging spin-off
Varian Medical (NYSE:VAR) said today that it will receive $200 million from its imaging components spin-off Varex Imaging in January as part of an updated separation deal. The spin off will be a new, stand-alone public company separated through a tax-free distribution to Varian stockholders, the company said. Varex Imaging will borrow approximately $200 million to […]
Varian Medical OKs $700m share buyback
Varian Medical (NYSE:VAR) today approved the repurchasing of 8 million shares of its common stock, according to an SEC filing. The buy will cost the Palo Alto, Calif.-based company approximately $700 million, with the repurchasing slated to start on January 1, 2017. Varian Medical said it has 4 million shares remaining in an existing 8 million […]
Varian Q4 release sees shares slump amid new deal with McKesson, CFO retiring
Varian Medical (NYSE:VAR) today saw shares slump after releasing mostly positive Q4 earnings, while also announcing it inked a new deal with McKesson Specialty Health as well as the retirement of its current CFO Elisha Finney. The Palo Alto, Calif.-based company posted profits of $117.8 million, or $1.25 per share, on sales of $912.5 million for […]
Varian Medical Systems draws well-timed option bets
(Reuters) – Bullish options on Varian Medical (NYSE:VAR) stock saw unusually heavy buying on Thursday before the shares spiked on an unsubstantiated report that GE Healthcare (NYSE:GE) could be in talks with the medical devices company about a possible takeover. Varian Medical Systems shares rose 10% to a record high of $106.69 after Spanish-language website Intereconomia reported […]