Varian Medical Systems, Inc. (NYSE: VAR) is having an incredibly strong start to the trading session this morning, and for good reason. The company has announced that it reached a key agreement surrounding the sale of a key medical product. Of course, this led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from VAR, and what we’ll be watching for ahead.
VAR Announces The Sale Of A Key Product
As mentioned above, Varian Medical Systems is having an incredibly strong start to the trading session this morning after announcing a key sale. In a press release issued early this morning, the company announced that it has reached an agreement with Sylvester Comprehensive Cancer Center at the University of Miami School of Medicine surrounding the sale of a key product.
Under the terms of the agreement, the customer will purchase and cover installation of the VAR ProBeamCompact proton therapy system. In the release, the company said that the system is scheduled to be installed at Sylvester, a part of the University of Miami Health System, in early 2019. It is expected that patient treatments using this system will start in the first half of 2020. VAR will also provide its ARIA information management system and Eclipse treatment planning system. In a statement, Dr. Moataz Karmalawy, General Manager of the Particle Therapy division at VAR, had the following to offer:
By expanding our partnership with Sylvester Comprehensive Cancer Center to now include proton therapy, we are able to showcase the synergies of our broad cancer care portfolio… Florida is developing as the leading region in proton therapy with 7 centers operating or under construction in the state. We look forward to continuing this partnership and making this advanced cancer fighting technology available to more patients in Florida.
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