Asia PR News

PALO ALTO, Calif., Dec. 26 /PRNewswire-AsiaNet/ –

Varian Medical Systems, Inc., (NYSE: VAR) today announced it has completed
the acquisition of Pan-Pacific Enterprises, Inc., the largest independent
distributor of medical X-ray tubes in China, for the purpose of marketing,
sales, and distribution of Varian X-ray imaging products in China. Varian is
acquiring the privately held business for approximately $2 million in cash plus
an additional amount based on achievement of specified milestones. Pan-Pacific
has been an independent distributor of imaging components, including Varian
X-ray tubes, in China since 1991.

“This acquisition significantly enhances the Varian sales channel for X-ray
tubes and flat panel image detectors in China,” said Bob Kluge, President of
Varian Medical Systems’ X-Ray Products business. “We intend to grow our X-Ray
Products business in China and the experienced Pan-Pacific team will be
instrumental in helping us achieve that objective. Our business specializes in
delivering cost competitive, high performance components for X-ray imaging and
they are well-suited to serve the growing market for high-quality imaging
products in China.”

Pan-Pacific Enterprises, which has approximately 30 employees working at
facilities in Beijing and Shanghai, will operate within Varian’s X-Ray Products
business segment. Details of the financial transaction are not being disclosed,
but Varian expects that Pan Pacific acquisition will be about neutral to
earnings per diluted share in fiscal 2008.

Varian Medical Systems, Inc., of Palo Alto, California, is the world’s
leading manufacturer of medical devices and software for treating cancer and
other medical conditions with radiotherapy, radiosurgery, proton therapy, and
brachytherapy. The company supplies informatics software for managing
comprehensive cancer clinics, radiotherapy centers and medical oncology
practices. Varian is a premier supplier of tubes and digital detectors for
X-ray imaging in medical, scientific, and industrial applications and also
supplies X-ray imaging products for cargo screening and industrial inspection.
Varian Medical Systems employs approximately 4,500 people who are located at
manufacturing sites in North America, Europe, and China, and in its 56 sales
and support offices around the world.

Forward Looking Statements:
Except for historical information, this news release contains
“forward-looking” statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Statements concerning customer demand and
acceptance of products or technology for X-ray imaging, and the outlook for
Varian’s orders, sales, backlog, or earnings growth; future financial results
and any statements using the terms “will,” “intend,” “well-suited to serve,”
“expects,” or similar statements are forward-looking statements that involve
risks and uncertainties that could cause Varian’s actual results to differ
materially from those anticipated. Such risks and uncertainties include the
ability to integrate the operations and products of Pan-Pacific Enterprises
into Varian, the ability to retain the services of key Pan-Pacific personnel;
demand for Varian’s X-ray imaging products; the impact of competitive products
and pricing; Varian’s ability to maintain or increase operating margins;
Varian’s ability to protect its intellectual property; the risk of operations
interruptions due to events beyond Varian’s control; and the other risks listed
from time to time in Varian’s filings with the Securities and Exchange
Commission. We assume no obligation to update or revise the forward-looking
statements in this release because of new information, future events, or
otherwise.

FOR INFORMATION CONTACT:
Varian Medical Systems
Spencer Sias (650) 424-5782

SOURCE: Varian Medical Systems, Inc.

CONTACT: Spencer Sias of Varian Medical Systems,
+1-650-424-5782

Web site: http://www.varian.com

(VAR)