Varian Medical Systems Announces Imaging Components Supply Agreement with Toshiba Medical Systems

SALT LAKE CITY, Jan. 27, 2014 /PRNewswire/ -- Varian Medical Systems (NYSE: VAR) has entered into a three-year agreement worth an estimated $515 million for Varian to supply medical imaging components to Toshiba Medical Systems for integration into imaging equipment for the global market. Orders will be booked over the period of the agreement.

"We are pleased to continue our strong relationship with Toshiba Medical Systems," said Robert Kluge, senior vice president at Varian.  "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."

About Varian Medical Systems
Varian Medical Systems, Inc., of Palo Alto, California, is the world's leading manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a premier supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems employs approximately 6,400 people who are located at manufacturing sites in North America, Europe, and China and 72 sales and support offices around the world. For more information, visit http://www.varian.com or follow us on Twitter.

About Toshiba Medical Systems Corporation
Toshiba Medical Systems Corporation is a leading worldwide provider of medical diagnostic imaging systems and comprehensive medical solutions, such as CT, X-ray and vascular, ultrasound, nuclear medicine and MRI systems, as well as information systems for medical institutions. Toshiba Medical Systems Corporation has been providing medical products for over 80 years. Toshiba Medical Systems Corporation is a wholly owned subsidiary of Toshiba. Visit Toshiba Medical Systems Corporation's website at www.toshibamedicalsystems.com.

About Toshiba
Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances. Toshiba was founded in 1875, and today operates a global network of more than 550 consolidated companies, with 202,000 employees worldwide and annual sales surpassing 6.1 trillion yen (US$74 billion). Visit Toshiba's website at www.toshiba.co.jp/index.htm.

Forward-Looking Statements
Except for historical information, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning industry outlook, including growth drivers; the company's future orders, revenues or other financial performance; the ability of the company's technology and products to treat cancer; and any statements using the terms "estimated," "continuing," or similar statements are forward-looking statements that involve risks and uncertainties that could cause the company's actual results to differ materially from those anticipated. Such risks and uncertainties include the effect of global economic conditions; demand for the company's products; the company's ability to develop, commercialize, and deploy new products; the company's ability to meet legal and regulatory requirements; changes in the legal or regulatory environment; and the other risks listed from time to time in the company's filings with the Securities and Exchange Commission, which by this reference are incorporated herein. The company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.

FOR INFORMATION CONTACT:
Elaine Rebele, (801) 978-5715
[email protected]

SOURCE Varian Medical Systems