PALO ALTO, Calif., June 18, 2015 /PRNewswire/ -- Varian Medical Systems (NYSE:VAR) today announced that it has entered into a multi-year agreement with Inova to be its exclusive supplier of advanced technology for image-guided, high-precision radiotherapy and radiosurgery. Inova, a not-for-profit healthcare system operating five hospitals in Northern Virginia, will also install Varian software across its sites, as part of a long-term plan to create an integrated informatics system and to unify cancer care across its network.
Under the agreement, Inova will acquire multiple Varian TrueBeam® radiotherapy/ radiosurgery systems over nine years, with initial replacements at Inova's Alexandria and Loudoun Hospitals. TrueBeam technology offers clinicians tremendous versatility in choosing and administering different types of radiation treatment for each patient as appropriate, from intensity-modulated radiotherapy to stereotactic radiosurgery. These treatments can be delivered with greater time efficiency—and hence cost effectiveness—than is possible with many other radiotherapy systems.
Inova will also expand its deployment of Varian's ARIA® information management and Eclipse™ treatment planning software, currently in use at two of the five sites, across the Inova network, and add Varian's new InSightive™ software for data analytics.
"We have been managing radiation oncology departments at two of our sites using Varian software for some time," said says Gopal K. Bajaj, MD, Chairman and Medical Director of Radiation Oncology, Inova. "We will replace competitive solutions at the other sites in order to unify cancer care across the system. We like the fact that ARIA is a comprehensive system that consolidates all treatment data in a single database. It dovetails with our plans to integrate all of our cancer treatment services in support of better care coordination and closer collaboration among clinical team members."
Inova will also deploy Varian's InSightive™ software for data analytics, which will enable clinicians and administrators to mine the enormous amount of data housed within the ARIA oncology information system database.
"ARIA is a robust practice management system and electronic medical record with a tremendous amount of information that Inova can mine and analyze to enhance the quality of care and the efficiency of its clinical operations," says Sukhveer Singh, vice president of Varian's Oncology Continuum Solutions. "ARIA includes many interfaces for importing data from other hospital information systems, resulting in a very rich resource. InSightive Analytics provides access to this data, making it visible and useful."
"Our partnership with Varian will help as we create an integrated healthcare delivery system that uses knowledge-based approaches for the optimal benefit of patients," adds Donald Trump, MD, CEO of the Inova Dwight and Martha Schar Cancer Institute. "We will study the data from cancer patients across our network, including detailed information regarding patient characteristics as well from a detailed study of patients' tumor tissue and their own genetic makeup, ultimately to analyze why different patients react differently to the same treatments. Varian's ARIA and Insightive informatics will help us aggregate and analyze that data, and tease out actionable information for the benefit of our patients."
The total value of the multi-year agreement is estimated at $25 million inclusive of products and services, such as turnkey hardware and software support. Varian booked approximately $4 million of this amount during the third quarter of fiscal year 2015. The remainder of the order will be booked in accordance with the company's policies over the term of the agreement.
About Varian Medical Systems
Varian Medical Systems, Inc., of Palo Alto, California, focuses energy on saving lives by equipping the world with advanced technology for fighting cancer and for X-ray imaging. The company is the world's leading manufacturer of medical devices and software for treating cancer and other medical conditions with radiation. The company provides comprehensive solutions for radiotherapy, radiosurgery, proton therapy and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is also a premier supplier of X-ray imaging components, including tubes, digital detectors, and image processing software and workstations for use in medical, scientific, and industrial settings, as well as for security and non-destructive testing. Varian Medical Systems employs approximately 6,800 people who are located at manufacturing sites in North America, Europe, and China and approximately 70 sales and support offices around the world. For more information, visit http://www.varian.com or follow us on Twitter.
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 "long-term plan," "will install," "will acquire," "can be," "will expand," "will replace," "will deploy," "will enable," "will study," "will help," "will be," 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.
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