Varex Imaging Corp - Company Profile
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Business Description
Varex Imaging Corp (Varex) is a provider of medical X-ray tubes and image processing solutions. The company's major products include X-ray tubes, digital flat panel detectors, X-ray collimators, ionization chambers, linear accelerators, mammography paddles, image software processing solutions, solid-state automatic exposure control systems, and high-voltage connectors.
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R&D Overview
R&D activities focus on the development and improvement of imaging component technology in both the medical and industrial X-ray imaging markets. Its X-ray source development areas include enhancements to tube life and tube stability, smaller footprint linear accelerators, reduction of tube noise and tube designs and improve image resolution. The company's R&D activities are primarily centered on developing and improving imaging component technology, including X-ray source development and digital detector imaging technology. The company invests in improving product performance, quality, and cost-effectiveness, leveraging its scale as a major independent X-ray imaging component supplier. Additionally, Varex Imaging Corp explores synergies between medical and industrial applications and across different products and business lines. In FY2024, the company spent US$87 million on its R&D activities, which as a percentage of revenue stood at 10.7%, and grew 2.6% YoY. As of September 2024, the company had a patent portfolio of approximately 230 patents issued in the US and approximately 410 patents issued across the rest of the world. The company had around 160 patent applications pending with various patent agencies worldwide.
Business Segments
Overview
Designs, manufactures, sells, and services X-ray imaging products for various applications such as cargo screening at ports and borders; baggage screening at airports; and inspection of manufacturing defects and product integrity in oil and gas, aerospace, automotive, metal castings, food packaging and 3D printing industries. It serves OEM customers, system integrators, and manufacturers. Key products include Linatron (X-ray linear accelerators), high voltage connections, digital detectors, industrial flat panel detectors, X-ray tubes, linear accelerators, and security detector arrays.
Performance
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Overview
Designs, manufactures, sells and services X-ray imaging components for various radiographic or fluoroscopic imaging applications, including mammography, computed tomography (CT), oncology, cardiac, surgery, dental and computer-aided detection. Major products include X-ray tubes, high voltage connectors, digital detectors, image-processing software and workstations, computer-aided diagnostic software, automatic exposure control devices, collimators, heat exchangers, generators, ionization chambers and buckys. Views acquisitions and product innovation as critical growth drivers for the segment.
Performance
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Geographical Segments
Target Markets
Latin America and North America
Performance
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Target Markets
Asia and Australia
Performance
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Target Markets
Russia, Europe, the Middle East, India and Africa
Performance
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