ORANGE CITY, Iowa, Oct 31, 2001 (BUSINESS WIRE) -- MED-TEC Iowa, Inc., today announced that it is dismissing a lawsuit it filed against Varian Medical Systems, Inc. (NYSE:VAR) last week. MED-TEC had filed its suit in U.S. District Court for the Northern District of Iowa over intellectual property issues related to patient positioning devices for radiotherapy.
Varian and MED-TEC believe this matter can be resolved amicably and outside the court system. The two companies expect to continue working together to provide equipment and accessories to radiation oncology centers.
MED-TEC Iowa, Inc., based in Orange City, IA, is a medical device company that manufactures and distributes radiation oncology products worldwide. Since its formation in 1982, the privately owned company has positioned itself as single-source supplier of innovative radiation therapy products, offering multiple solutions to improve clinical outcomes. The company, which has over 2,000 radiation oncology customers, has consistently achieved record growth over each of the past five years and is an ISO 9001 certified engineering, manufacturing and sales organization. The company also has strategic partnerships with major medical device manufacturers such as Varian Medical Systems.
Varian Medical Systems, Inc., (NYSE:VAR) of Palo Alto, California, is the world's leading manufacturer of integrated cancer therapy systems as well as X-ray tubes and flat-panel sensors for imaging in medical, scientific, and industrial applications. Varian Medical Systems employs approximately 2,600 people and reported sales of $690 million in its most recent fiscal year ended September 29, 2000.
Varian Medical Systems
Spencer Sias, 650/424-5782