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Varian Medical Systems plans to spin off imaging components business


Monday, 23 May 2016 04:05pm EDT 

Varian Medical Says Expects To Incur An $35 Mln In Charges For Transaction Advisory Services, Assuming Spin : Off anticipated to be completed by end of calendar year 2016 . Imaging components business will become a new independent publicly traded company . New imaging components co expected to have annual revenues of about $575 million . New imaging components company is expected to have annual revenues of about $575 million . Says new company's management team will include sunny sanyal as new chief executive officer . Company does not expect spin-off to impact company's non-gaap financial guidance for fiscal year 2016 . Deal intended to take form of a tax-free distribution to varian stockholders of shares of new company's common stock . Off is completed by end of calender year . Says new company's management team will include clarence verhoef as chief financial officer .Varian medical systems announces plan to spin off imaging components business.