Varian Medical Systems’ (VAR) radiation oncology business has a strong foothold around the world. The company offers advanced radiation therapy systems for cancer treatment. Some of the global trends that are having an impact on Varian’s radiation oncology business segment include the growing demand for minimally invasive surgeries, the increasing need and treatment gaps in the emerging economies, a shift towards value-based healthcare, and the emergence of big data. Thus, Varian Medical Systems has created a strategy to provide high-quality, cost-effective technologies to the patients around the world through automated knowledge-guided oncology.
Portfolio solutions strategy
Varian Medical Systems analyzed the impact of global trends on the company’s products and growth and created a product strategy. The company has categorized its portfolio into three innovation areas including knowledge-guided oncology, advanced data analytics, and intelligent treatment delivery.
The knowledge-guided oncology solutions enable clinicians to make faster and better decisions, thus improving the treatment efficiency. The intelligent treatment delivery systems help leverage the technology insights and enhance the value of healthcare to the patient and investment returns to the healthcare provider. The advanced data analytics support the intelligent treatment delivery systems and enable knowledge-guided oncology.
Varian Medical Systems collaborates and partners with a number of institutions and organizations to develop, establish, and implement technology solutions, and advancing healthcare. Some of the other peer companies, which are also actively pursuing the development of technology-enabled products and services, include Medtronic (MDT), Becton Dickinson (BDX), and Johnson & Johnson (JNJ). Investors can invest in the SPDR S&P 500 Growth ETF (SPYG) to gain diversified exposure to Varian Medical Systems, which accounts for ~0.05% of SPYG’s total holdings.