Varian Medical (VAR) Signs Distribution Deal With Bionix
Zacks Investment Research | Aug 09, 2017 09:55PM ET
Palo Alto, CA-based manufacturer of medical devices and software, Varian Medical Systems, Inc. (NYSE:VAR) , announced that it has signed a distribution agreement with Toledo, OH-based Bionix Radiation Therapy. Per the agreement, Varian Medical would distribute Bionix’s propreitory brachytherapy applicators. Varian will market the Bionix Esophageal Applicator (E-App) and the Anorectal Applicator (AR-1) in North America.
Of the above two applicators, E-App is a disposable brachytherapy applicator. It is designed specifically for the treatment of cancers. The E-App features five independently operable balloons that maintain the central position of the source catheter in both straight and curved anatomy. This allows for closer proximity of the target to the source while maintaining distance from healthy tissue.
The second applicator, AR-1 is a disposable brachytherapy applicator. It is designed specifically for the treatment of anal and rectal cancers. The dual balloon design of the AR-1 allows exophytic tumors to press closer to the source catheter. This creates the ability to deliver a very high dose to the tumor, while sparing healthy tissue.
Future Trend
We note that the global radiotherapy market is expected to reach a worth of $7,544.8 million by 2020, at a CAGR of 6.2%. Taking the bountiful prospects in the global niche space into consideration, the latest development should boost investor’s confidence.
Share Price Performance
A promising portfolio combined with robust initiatives has been favoring this Zacks Rank #3 (Hold) company, which has delivered positive earnings surprise in 12 of the last 14 quarters. We note that shares of Varian Medical have declined 0.2% over the past three months against the Original post
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