Varex Announces Renewed Pricing Agreement With Canon Medical Systems

SALT LAKE CITY--(BUSINESS WIRE)--Varex Imaging Corporation (Nasdaq: VREX) today announced it has entered into a renewed three-year pricing agreement with Canon Medical Systems Corporation effective for calendar years 2020 - 2022.

“We are very pleased to continue our multi-decade long relationship with Canon Medical Systems and bring to their next generation imaging systems our portfolio of innovative X-ray based technology, which can accelerate time to market and reduce total cost of ownership,” said Sunny Sanyal, Chief Executive Officer of Varex Imaging Corporation.

Varex will continue to supply its computed tomography (CT) tubes and heat exchangers for integration into Canon Medical Systems’ CT imaging systems for the global market. Potential product sales associated with this renewed agreement are estimated to be approximately $385 million over the term of the agreement. Varex also supplies Canon Medical Systems with digital detectors and high voltage connectors through separate agreements.

About Varex

Varex Imaging Corporation is a leading innovator, designer and manufacturer of X-ray imaging components, which include X-ray tubes, digital detectors and other image processing solutions that are key components of X-ray imaging systems. With a 65+ year history of successful innovation, Varex’s products are used in medical imaging as well as in industrial and security imaging applications. Global OEM manufacturers incorporate the company’s X-ray sources, digital detectors, connecting devices and imaging software in their systems to detect, diagnose and protect. Headquartered in Salt Lake City, Utah, Varex employs approximately 2,000 people located at manufacturing and service center sites in North America, Europe, and Asia. For more information visit vareximaging.com.

Forward-Looking Statements

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