Radiation therapy firm Varian Medical Systems has installed its TrueBeam radiation therapy system at the Inselspital, the university hospital of Bern, Switzerland.
More than 40 patients have been treated using the system, according to Varian.
In other company news, Varian has signed an agreement with Bank of America to repurchase $280 million of its common stock under an accelerated share repurchase program. Under the deal, Varian will pay $280 million to Bank of America and receive approximately 3.5 million shares (85% of the shares to be repurchased) based on the closing share price of the company's common stock on February 23.
The total number of shares to be repurchased will be determined upon final settlement. Varian will receive additional shares of common stock or under certain circumstances be required to remit a settlement amount payable at Varian's option in cash or common stock. The amount would be based generally on the volume-weighted average share price of the company's common stock during the next two to six months.
