| From: JakeStraw | 9/21/2006 8:10:01 AM | | | | | | Pioneering Image-Guided Radiotherapy Takes Place Using Varian Equipment at Top Cancer Hospital in Belgium
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Thursday September 21, 8:00 am ET
LEUVEN, Belgium, Sept. 21 /PRNewswire-FirstCall/ -- Cancer patients in Belgium have begun receiving a new more precise form of radiotherapy using X-ray imaging during treatments to locate and focus beams more closely on tumors. The new cancer treatment called image-guided radiotherapy (IGRT) is being offered at the university hospital of Leuven using equipment from Varian Medical Systems.
Clinicians at UZ Gasthuisberg are using a new Clinac® medical linear accelerator equipped with an On-Board Imager(TM) device to capture high-quality images of tumors at the time of treatment. The fully automated device enables medical staff to sharpen their aim on the tumor by quickly repositioning patients on the treatment couch immediately prior to treatment.
The system takes radiographic, fluoroscopic and 3D conebeam CT images to give clinicians an optimum view of the tumor site and surrounding bones, organs and soft tissue. Using this information, they can adjust the position of the patient automatically without having to re-enter the treatment room, avoiding the need for time-consuming manual adjustments and ensuring the busy center can avoid longer treatment times and growing waiting lists for their patients. Dr. Karin Haustermans, professor in radiation oncology, said, "This is a major benefit because it means these improved imaging techniques can be introduced without putting too much pressure on the system."
Prior to the advent of IGRT, radiation oncologists had to contend with variations in patient positioning and with respiratory motion by treating a relatively large margin of healthy tissue around the tumor. IGRT enables doctors to minimize the volume of healthy tissue exposed to the treatment beam. Potentially, image data from IGRT tools like the On-Board Imager device will be used to note changes in tumor size and shape over a course of treatment, and make real-time adaptations to the treatment plan.
All prostate cancer patients at the hospital are imaged using the On-Board Imager device's radiographic mode immediately prior to treatment. In August, the hospital used the imager for the first time to capture a 3D conebeam CT image of a 62-year-old rectal cancer patient.
"We were very impressed with the conebeam CT image and online matching with the original CT image worked perfectly," adds Dr. Haustermans. "As the patient is male we were also able to check the prostate, which was very visible despite the lack of markers." Images from the new device are also incorporated into the hospital's ongoing research programs, including major studies on image guided radiotherapy and PET imaging for rectal cancer.
Varian's Acuity(TM) imager for treatment planning and verification is also used at the hospital for patient set-up, especially for rectal cancer patients who lie on a "belly-board" and cannot therefore have conventional CT scans.
UZ Gasthuisberg treats up to 200 patients per day on four Varian Clinac® linear accelerators, with a fifth machine due to be installed in the near future. The hospital was one of the earliest in Europe to introduce intensity modulated radiotherapy (IMRT), a more accurate treatment process that limits side effects while enabling doses to be increased by automatically shaping beams to match the shape of the tumor. The hospital is now using IMRT for prostate, head & neck, oesophagus and rectal cancer treatments.
Walter Frei, head of Varian's oncology systems business in Europe, says, "This leading scientific center is a great example of how these advanced radiotherapy techniques are being put into practice in a routine clinical fashion. In addition to improving precision, our systems focus on automation and fast, comfortable treatment processes, which makes them particularly suitable for busy centers such as this one." |
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| To: JakeStraw who wrote (176) | 10/2/2006 3:12:15 PM | | From: Peter Dierks | | | | Doctors at CentraState Medical Center Target Prostate Cancer More Precisely Using 2-D and 3-D Imaging
FREEHOLD, N.J., Oct. 2 /PRNewswire-FirstCall/ -- Clinicians at CentraState Medical Center in Freehold, New Jersey, are offering a novel image-guided radiation therapy (IGRT) treatment for prostate cancer patients using advanced 2-D and 3-D imaging technology from Varian Medical Systems (NYSE: VAR) to target tumors more precisely.
"This new approach to treating prostate cancer enables us to do a better job of preserving the surrounding healthy tissues in order to improve outcomes and reduce complications for our patients," said Brian Chon, MD, radiation oncologist on staff at CentraState
Frank Simacek, 67, a retired IBM engineer who now works part-time, has just completed an eight-week course of treatment with Chon. Several months ago, Simacek's PSA level rose, indicating the possibility of prostate cancer. A subsequent biopsy confirmed that he had cancer.
"We discussed the options with Frank and settled on a strategy of delivering a high radiation dose using image-guided external-beam radiotherapy," Chon said. "We are using intensity-modulated radiotherapy (IMRT) to shape beams and modulate dose intensity while using IGRT to target the tumor with millimeter accuracy."
Chon's team uses Varian's On-Board Imager(TM) device, an automated, robotic imager mounted on the treatment machine, to generate radiographic X-ray images at the beginning of each treatment session to line up the radiotherapy beam with the tumor. Gold seeds implanted in the prostate made it easier to see and target the tumor, which typically shifts from day to day.
"We were amazed by the variability of the tumor position each day," Chon commented. "The prostate gland moves around inside the body a lot more than you might imagine. It is not unusual to see it shift as much as a centimeter, due to the contents of the bowel or bladder. Using Varian's imaging device, we are able to make sure we're actually treating the prostate every day. Otherwise we'd risk missing parts of the tumor on some days."
The CentraState team also generates 3-D cone-beam CT X-ray images of the tumor weekly to measure the average amount of tumor motion for better treatment planning. "We're also able to fuse the 3-D images with data in our planning system, to calculate exactly how much dose is going to the prostate and each of the surrounding organs," Chon said. "We see 2-D radiographic and 3-D cone-beam CT imaging serving different purposes," said Jan Dragotta, clinical director. "We use cone-beam CT as a tool for adapting the treatment plan according to changes in patient anatomy. We can take a cone-beam CT image and superimpose it onto treatment plan images. That shows us how a plan may need to be modified. We use the 2-D radiographic imaging for positioning our IMRT patients, and it works beautifully. We've become so efficient with the 2-D imaging; we're saving 30-45 minutes per day setting patients up for treatment. That means we can treat another 2-3 patients each day. When you're a community hospital with a one-machine radiation oncology department, that efficiency is important."
Simacek reports that he went right on working, and that he has not experienced any side effects or drop in energy during his course of treatment. He also says that the technology used to treat his prostate cancer is "pretty amazing. I saw a lot of impressive technology over a 30- year career with IBM, and I have to tell you, this technology is pretty neat stuff.
"But just as important, in my mind, was the caliber of the staff at CentraState, including the doctors, nurses, and therapists," he added. "They answered all my questions professionally and courteously. They greeted all patients with a smile, created a relaxed atmosphere, and showed concern about my well being as well as that of all the other patients."
About CentraState
CentraState Healthcare System is a non-profit community health organization consisting of an acute-care hospital, three senior living centers, a health education and activities center, a family medicine residency program, and a charitable foundation. It is a member of the Robert Wood Johnson Health Network and a clinical research affiliate of The Cancer Institute of New Jersey, a National Cancer Institute-designated Comprehensive Cancer Center.
About Varian Medical Systems, Inc.
Varian Medical Systems, Inc., of Palo Alto, California is the world's leading manufacturer of integrated cancer therapy systems, which are treating thousands of patients per day. The company is also a premier supplier of X-ray tubes and flat-panel digital subsystems for imaging in medical, scientific, and industrial applications. Varian Medical Systems employs approximately 3,280 people who are located at manufacturing sites in North America and Europe and in its 56 sales and support offices around the world. Additional information is available on the company's web site at varian.com. |
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| From: JakeStraw | 10/26/2006 11:01:10 AM | | | | | | Varian Medical Systems Reports Solid Growth in Net Earnings, Revenues, Net Orders, and Backlog for Fourth Quarter and Fiscal Year 2006
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Wednesday October 25, 4:00 pm ET
Company Raises Earnings Guidance for Fiscal Year 2007
PALO ALTO, Calif., Oct. 25 /PRNewswire-FirstCall/ -- Varian Medical Systems (NYSE: VAR) today is reporting solid growth in net earnings, revenues, net orders, and backlog for the fourth quarter and full fiscal year 2006 with significant gains in its Oncology Systems and X-Ray Products businesses.
Compared to the same period last fiscal year, fourth-quarter revenues grew 18 percent to $454 million and net orders rose 12 percent to $545 million. Compared to fiscal year 2005 totals, annual revenues grew 16 percent to $1.6 billion, net orders rose 14 percent to $1.8 billion, and the year-ending backlog increased 19 percent to $1.4 billion.
For the fourth quarter, net earnings were $82 million or $0.62 per diluted share. Excluding $0.05 per diluted share of expense for stock options, a $0.07 per diluted share gain from discrete tax items, and a $0.01 per diluted share gain from discontinued operations, net earnings for the fourth quarter were $79 million or $0.59 per diluted share, up 31 percent from net earnings per diluted share in the year-ago period.
For fiscal year 2006, net earnings were $245 million or $1.81 per diluted share. Excluding $0.20 per diluted share of expenses for stock options, a $0.15 per diluted share gain from discrete tax items, and the $0.01 per diluted share gain from the discontinued operations, net earnings for the fiscal year were $251 million or $1.85 per diluted share, up 23 percent from net earnings per diluted share last fiscal year.
"Robust demand for advanced products for image-guided radiotherapy (IGRT), stereotactic radiosurgery, brachytherapy, and filmless X-ray imaging contributed to our growth in net orders, revenues, and net earnings during the quarter and the fiscal year," said Tim Guertin, president and CEO of Varian Medical Systems. "We ended fiscal year 2006 on a particularly strong note that sets the stage for continued growth in fiscal year 2007 and beyond."
"Excluding stock option expenses, fourth quarter operating earnings as a percentage of revenues improved by half a point to 24 percent, even with a quarter-over-quarter decline of half a point in the gross margin due to continued high ramp-up costs for our new On-Board Imager® (OBI) device for IGRT," Guertin said. "For the year, the company sustained operating earnings at 22 percent of revenues."
The company ended the year with $366 million in cash and marketable securities, and spent $72 million during the quarter to repurchase 1.5 million shares of common stock, leaving a balance of 1.5 million shares in its existing repurchase authorization.
Oncology Systems
Oncology Systems' fourth quarter revenues totaled $383 million, up 17 percent from the same period last fiscal year. Revenues for the fiscal year were $1.3 billion, up 16 percent from the fiscal year 2005 total.
Fourth-quarter net orders were $470 million, up 13 percent from the same period last year with 25 percent growth in North America and a 4 percent decline in international markets. Fiscal year net orders were $1.5 billion, up 13 percent from fiscal year 2005 totals with 19 percent growth in North America and 6 percent growth in international markets. "Respectable gains in Europe were partially offset by softness in Asia during the fiscal year," said Guertin.
"North American cancer treatment centers are again leading a major market transition toward IGRT and image-guided radiosurgery," Guertin said. "Our OBI devices together with our linear accelerators are being used more commonly to target smaller tumors more precisely. As of the end of the fourth quarter, we had more than 325 installations of our OBI devices complete or in progress. Our versatile top-of-the-line Trilogy accelerator for both radiotherapy and radiosurgery, as well as our brachytherapy and software products, contributed significantly to the growth in net orders and revenues for this business."
X-Ray Products
Fourth quarter revenues for the X-Ray Products business were $59 million, up 15 percent from the year-ago quarter, and revenues for the full fiscal year were $228 million, up 17 percent from fiscal year 2005. Compared to corresponding periods in fiscal year 2005, X-Ray Products' fourth quarter net orders rose 21 percent to $68 million and fiscal year net orders rose 19 percent to $242 million.
"X-Ray Products had another spectacular year of growth driven in large part by our rapidly expanding business in flat-panel digital detectors for filmless X-ray imaging," Guertin said. "Both net orders and shipments of our flat-panel detector devices were roughly double their totals from last fiscal year, and these products now make up about a fourth of the X-Ray Products business." During the quarter, this business completed construction of a new flat-panel production facility at its Salt Lake City manufacturing plant.
Other
The company's Other category, including the Security and Inspection Products business and the Ginzton Technology Center, recorded combined fourth quarter net orders of $7 million, down $8 million from an exceptionally high year-ago quarter. Net orders for fiscal year 2006 were $42 million, up 33 percent from totals for fiscal year 2005. Revenues for the quarter were $12 million, up $3 million from the year-ago period. Revenues for the fiscal year totaled $34 million, up 6 percent from the fiscal year 2005 total.
"Stronger demand for port security products, including strengthening demand in the U.S., contributed to the strong annual orders growth in this emerging business," Guertin said.
Outlook
"Excluding stock option expenses, we believe that total company revenues and earnings per diluted share for the first quarter of fiscal year 2007 should increase in the mid-teens above the comparable periods in fiscal 2006," Guertin said. "For the full fiscal year, we believe that revenues should increase by about 13 percent above fiscal year 2006 levels. We expect that earnings per diluted share excluding options expensing should be in the range of $2.08 to $2.10 for the full fiscal year 2007. Option expenses for fiscal year 2007 should be in the range of $0.21 to $0.24 per diluted share." |
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| To: JakeStraw who wrote (182) | 12/29/2006 4:55:50 PM | | From: Paul Senior | | | | I'll take a few shares at current price.
Looks like VAR will see good business in 2007. P/e is high for me, but that's compensated for by the good profit margins I see. |
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| From: JakeStraw | 1/4/2007 8:42:55 AM | | | | | | Varian Medical Systems Announces Intent to Acquire ACCEL Instruments GmbH
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Thursday January 4, 8:30 am ET
Company to Supply Proton Therapy Products for Cancer Treatments
PALO ALTO, Calif., Jan. 4 /PRNewswire-FirstCall/ -- Varian Medical Systems, Inc., (NYSE: VAR) today announced it has signed an agreement to acquire ACCEL Instruments GmbH, a privately-held supplier of proton therapy systems for cancer treatment and scientific research instruments. The acquisition will enable Varian to offer products for delivering image-guided, intensity modulated proton therapy for selected cancer patients. Varian will invest approximately $30 million to acquire 100 percent of ACCEL, including its debt.
"With this acquisition, we can meet the needs of customers who have begun to ask us for proton therapy capabilities that supplement their existing radiotherapy systems," said Tim Guertin, president and CEO of Varian Medical Systems. "This leverages our existing technology in treatment planning, image guidance and cancer informatics and it enables Varian to offer all the products needed for delivering proton therapy. We expect that we can build a several hundred million dollar proton therapy business over time."
"We are excited about the technology and value we see in ACCEL which has a unique scanning beam technology that is ideal for intensity modulated proton therapy," Guertin added. "Also with ACCEL's superconducting cyclotron technology, we expect to be able to develop and tailor more affordable proton therapy systems designed for small, single-room centers as well as large, multi-room facilities."
ACCEL has commissioned its newly developed superconducting medical cyclotron for proton therapy at the Paul Scherer Institute outside Zurich. Work is nearing completion on another installation at the Rinecker Proton Therapy Center in Munich and Varian hopes to complete commissioning that system this year.
In addition to producing particle therapy products, ACCEL produces specialty linear accelerators and other physics instruments for research and science applications. ACCEL, which is based in Bergisch Gladbach near Cologne, Germany, has about 250 employees.
Varian anticipates the acquisition will add annualized revenues of approximately $30 million in fiscal year 2007. Based on guidance given at the end of fiscal 2006, management expects that the addition of ACCEL's operations will reduce earnings per diluted share by about 3 percent in fiscal year 2007, be about neutral in fiscal year 2008, and be accretive thereafter. The business will report to Varian Vice President Lester Boeh, who is responsible for managing Varian's portfolio of emerging businesses. |
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