Varian Medical (NYSE:VAR) said it entered a 3-year, $515 million supply agreement with Toshiba Medical Systems (TYO:6502).
Palo Alto, Calif.-based Varian develops and markets devices & software for treating cancer. Toshiba Medical Systems concerns itself with medical diagnosis equipment. Varian will supply its medical imaging components for integration into Toshiba Medical Systems’ imaging systems, according to a press release.
“We are pleased to continue our strong relationship with Toshiba Medical Systems. Throughout our long standing relationship Varian and Toshiba have worked closely together to increase the performance of imaging equipment and reduce the overall cost. This agreement represents Toshiba’s continuing confidence in our imaging components technology. We’re proud to be a valuable asset to Toshiba’s portfolio and jointly develop new product technologies for the imaging market,” Varian Imaging Components President Robert Kluge said in prepared remarks.
Varian’s Kluge is preparing to step down. Kluge has been with the company since 1993 and will depart from his position in February. He will be succeeded by T-System CEO Sunny Sanyal.
