Varian Announces Immaterial Impact of Newly Proposed Tariffs

Date : 08/05/2019 @ 12:15PM
Source : PR Newswire (US)
Stock : Varian Medical System (VAR)
Quote : 138.98  -0.25 (-0.18%) @ 6:32PM

Varian Announces Immaterial Impact of Newly Proposed Tariffs

Varian Medical System (NYSE:VAR)
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PALO ALTO, Calif., Aug. 5, 2019 /PRNewswire/ -- Varian (NYSE: VAR) today announced that the newly proposed tariffs by the U.S. on the remaining $300 billion of Chinese imports should have no material impact to the company.

Last Thursday, the U.S. announced plans to impose a 10 percent tax on $300 billion in Chinese imports beginning September 1, 2019.  Varian estimates these newly proposed tariffs should have an immaterial financial impact.

About Varian
At Varian, we envision a world without fear of cancer.  For more than 70 years, we have developed, built and delivered innovative cancer care technologies and solutions for our clinical partners around the globe to help them treat millions of patients each year.  With an Intelligent Cancer Care approach, we are harnessing advanced technologies like artificial intelligence, machine learning and data analytics to enhance cancer treatment and expand access to care.  Our 9,200 employees across 70 countries keep the patient and our clinical partners at the center of our thinking as we power new victories in cancer care.  Because, for cancer patients everywhere, their fight is our fight.  For more information, visit http://www.varian.com and follow @VarianMedSys on Twitter.

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 the expected impact of proposed tariffs or other financial results; and any statements using the terms "could," "believe," "expect," "promising," "outlook," "should," "well-positioned," "will" or similar statements are forward-looking statements that involve risks and uncertainties that could cause the company's actual results to differ materially from those anticipated. Such risks and uncertainties include the final terms of any new tariffs and whether any reciprocal tariffs are imposed, our ability to achieve expected synergies from acquisitions; risks associated with integrating recent acquisitions; global economic conditions and changes to trends for cancer treatment regionally; currency exchange rates and tax rates; the impact of the Tax Cuts and Jobs Act; the impact of  the Affordable Health Care for America Act (including excise taxes on medical devices) and any further healthcare reforms (including changes to Medicare and Medicaid), and/or changes in third-party reimbursement levels; recent and potential future tariffs or a global trade war; demand for and delays in delivery of the company's products; the company's ability to develop, commercialize and deploy new products; the company's ability to meet Food and Drug Administration (FDA) and other regulatory requirements, regulations or procedures; changes in regulatory environments; risks associated with the company providing financing for the construction and start-up operations of particle therapy centers, challenges associated with commercializing the company's proton solutions business; challenges to public tender awards and the loss of such awards or other orders; the effect of adverse publicity; the company's reliance on sole or limited-source suppliers; the company's ability to maintain or increase margins; the impact of competitive products and pricing; the potential loss of key distributors or key personnel; challenges related to entering into new business lines; and the other risks listed from time to time in the company's filings with the Securities and Exchange Commission, which by this reference are incorporated herein. The company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.

Press Contact
Mark Plungy
Director, Public Relations
+1 (650) 424-5630
mark.plungy@varian.com

Investor Relations Contact
J. Michael Bruff
Senior Vice President, Investor Relations
+1 (650) 424-5163
investors@varian.com

 

Cision View original content:http://www.prnewswire.com/news-releases/varian-announces-immaterial-impact-of-newly-proposed-tariffs-300896091.html

SOURCE Varian

Copyright 2019 PR Newswire

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