The Velocity software is designed to aggregate treatment and imaging data from cancer patients’ medical records, "regardless of where they were treated or what technology was used," according to a press release.
"The Velocity software enables clinicians to easily collect, integrate, and share data from CT, PET, and MR images and diverse treatment systems for close collaboration with referring physicians, oncologists, medical physicists, and others on the care team," according to the release.
More than 200 clinics use Atlanta-based Velocity’s software; Varian said it plans to use its scale to "contribute to faster and deeper market penetration for the Velocity product."
"This acquisition supports our commitment to providing clinicians with tools for data-driven clinical decision making," Varian oncology systems president Kolleen Kennedy said in prepared remarks. "We believe that the Velocity software has the potential to play an important role at the over 4400 cancer centers currently utilizing Varian technology. The software enables health care professionals to use oncology patient images and data to plan and assess treatments, collaborate with colleagues, and share clinical knowledge – all important capabilities in an era of evidence-based medicine."
"We are excited about the possibilities that this acquisition by Varian creates," added Velocity co-founder Tim Fox of Emory University’s radiation oncology department. "We expect that Varian will support the continued development of this important clinical tool and help to make it more widely available. We share a common vision to empower oncology care teams to make more confident decisions."
Varian said it plans to maintain the Velocity operation in Atlanta and continue to develop the software. The buyout is expected to close during its fiscal 3rd quarter, which ends in June.
VAR shares were trading at $85.03 apiece as of about 10:30 a.m. today, up 0.1%.