Varian Medical Systems
) TrueBeam technology will be deployed across Meridian Health's
network of cancer treatment clinics in New Jersey. TrueBeam
technology, developed by Varian, is used to treat cancer patients
with advanced radiotherapy treatment. It is designed to treat
tumors with great speed and accuracy, along with tumors that move
at the time of treatment as the patient breathes.
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Varian's shares, which are up around 14% over a year, rose 1.4%
in the trading session following the news release. The stock is
up roughly 8% so far this year.
Under this deployment program, Meridian will install seven
TrueBeam machines across its five sites, together with Varian's
Aria data management and Eclipse treatment planning software.
Using Varian's FullScale cloud-based oncology IT data hosting
solution, the entire network of these TrueBeam machines will be
integrated and centrally managed. The five centers where these
machines will be installed offer radiotherapy and radiosurgery
treatment to oncology patients.
Meridian will also acquire patient support tools including tumor
registry along with a survivorship software product, which will
enable these cancer clinics to provide coordinated navigation and
survivorship care planning for cancer patients.
Varian is a world leader in designing, manufacturing and
marketing radiotherapy and radiosurgery equipment and software,
to treat patients who suffer from different types of cancer.
Varian's TrueBeam and TrueBeam STx, two new state-of-the-art
radiotherapy and radiosurgery systems, are designed to treat
cancer. These cutting-edge technologies will enhance the
radiosurgery capabilities at Meridian's health care clinics
through out Central and Southern New Jersey.
Installation of the TrueBeam technology will offer shorter
treatment cycles to many patients. It will also add arc therapy
to the range of treatment options the company currently utilizes.
The installation of the TrueBeam technology is part of a
multi-year agreement, worth roughly $30 million, signed between
Meridian and Varian. This agreement was signed to expand, upgrade
and standardize radiotherapy and radiosurgery treatment
capabilities across the entire system.
A portion of the system order has been booked during Varian's
fiscal first-quarter 2014. The remaining portion of the order
will be booked over the term of the agreement. According to this
agreement, Varian will also provide professional consulting
services to Meridian's clinical teams in order optimize patient
workflow and throughput at each of the centers.
Varian currently holds a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the medical
instruments industry include
Natus Medical Inc.
Syneron Medical Ltd.
). All these stocks carry a Zacks Rank #1 (Strong Buy).