PALO ALTO, Calif.--(BW HealthWire)--March 20, 2001--Varian Medical Systems, Inc. (NYSE:VAR) and Mid Atlantic Group Network of Shared Services (MAGNET) today announced they have renewed a preferred pricing agreement to supply members of the Mid Atlantic Group Network of Shared Services, Inc. (MAGNET) with advanced systems for treating cancer with radiotherapy. The contract covers Varian's state-of-the-art equipment and software for SmartBeam(TM) IMRT (intensity modulated radiation therapy), a new form of highly precise radiation therapy that targets cancer cells with high doses while minimizing the exposure of nearby healthy tissue.
"This agreement renews our sole source contract providing MAGNET members with group buy opportunities and special pricing on all of our radiotherapy devices and software," said Timothy Guertin, president of Varian Medical Systems' oncology business. "It is an important mechanism for making the Varian system for SmartBeam IMRT more widely accessible."
Under the agreement, Varian Medical Systems makes available its full range of products, including the Clinac(R) EX Platinum linear accelerator and Ximatron(R) treatment simulators as well as multi-leaf collimators and other accessories for SmartBeam IMRT. Varian Medical Systems' products also include software for planning treatment and managing patient information, brachytherapy systems, and medical imaging systems.
"MAGNET is one of the largest and most experienced shared service organizations in the country," said Derwood B. Dunbar, Jr., President and CEO. "We serve about 12,000 providers, including over 775 acute care hospitals with 175,000 beds. Varian has been one of our longest standing partners. We value that long term relationship and so do our members."
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 2,400 people and reported sales of $690 million in its most recent fiscal year ended September 29, 2000. For more information, visit www.varian.com.
About MAGNET: Founded in 1979, MAGNET is one of the oldest, largest, and most experienced shared service/group purchasing organizations in the country. MAGNET's membership is comprised of member shared service organizations, which in turn, serve their participating facilities directly. These organizations, while regionally based, permit MAGNET to achieve national status through the tremendous volume they represent. In fact, almost 25% of the nation's healthcare is delivered within MAGNET's geography. MAGNET members serve over 775 hospitals and 1100 nursing homes, along with over 5000 physicians and 1000 allied healthcare organizations in twenty states.
This press release contains certain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which provides a "safe harbor" for these types of statements. These forward-looking statements are subject to risks and uncertainties that could cause the actual results of Varian Medical Systems, Inc. to differ materially from management's current expectations. These risks and uncertainties include, without limitation, product demand and market acceptance risks; new product development and commercialization; the impact of managed care initiatives in the U.S. on capital expenditures and resulting pressures on medical equipment purchases; and other risks detailed in Varian Medical Systems, Inc. filings with the Securities and Exchange Commission. Varian Medical Systems, Inc. assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
CONTACT: Varian Medical Systems, Palo Alto
Spencer Sias, 650/424-5782
Derwood B. Dunbar, Jr., 717/763-5555