Company Overview

Varex Imaging Corporation is a global manufacturer and supplier of medical imaging components and industrial imaging solutions, operating primarily within the medical imaging, healthcare technology, and industrial inspection industries. The company focuses on designing, manufacturing, and selling components that enable diagnostic imaging systems, including X-ray tubes, flat panel detectors, and high-voltage connectors. Its products are core inputs for original equipment manufacturers (OEMs) rather than direct-to-patient healthcare delivery.

The company’s primary revenue drivers are its Medical segment and Industrial segment, with medical imaging historically accounting for the majority of revenue. Varex serves major medical device manufacturers, industrial inspection companies, and security system providers, positioning itself as a critical supplier within the global imaging value chain. The company traces its origins to businesses formerly owned by Varian Medical Systems and was established as an independent public company in 2017 following a spin-off, allowing it to focus exclusively on imaging components and technologies.

Business Operations

Varex operates through two main business segments: Medical, which supplies imaging components for diagnostic radiography, fluoroscopy, mammography, and computed tomography systems, and Industrial, which provides imaging components for non-destructive testing, cargo screening, and security applications. Revenue is generated through long-term supply relationships with OEM customers, replacement part sales, and service-related offerings tied to component lifecycles.

The company maintains both domestic and international manufacturing and service operations, with proprietary expertise in X-ray source technology, digital detectors, and system integration. Varex controls a portfolio of patented technologies and specialized manufacturing processes that create switching costs for customers. Its operations are supported by wholly owned subsidiaries across North America, Europe, and Asia, and it maintains strategic supplier and customer partnerships rather than large-scale joint ventures.

Strategic Position & Investments

Varex’s strategic direction centers on expanding its installed base of imaging components, increasing content per system, and driving growth in digital imaging technologies. The company has invested in detector innovation, advanced materials, and next-generation X-ray sources to align with trends toward higher-resolution imaging and lower radiation doses. Management has emphasized operational efficiency, cost discipline, and selective capital allocation in response to cyclical demand in healthcare capital equipment markets.

Historically, Varex has pursued targeted acquisitions to expand technology capabilities and product breadth, including the acquisition of Direct Conversion, which strengthened its position in advanced detector materials. The company also continues to invest in emerging imaging applications within security screening and industrial automation, while maintaining a strong focus on medical imaging as its core long-term growth driver.

Geographic Footprint

Varex Imaging Corporation is headquartered in North America, with its corporate headquarters located in the United States. The company operates manufacturing, engineering, and service facilities across North America, Europe, and Asia, supporting a globally diversified customer base. Its geographic reach enables proximity to major medical imaging OEMs and industrial customers.

International markets represent a significant portion of revenue, with strong exposure to Europe and Asia-Pacific regions where diagnostic imaging demand continues to expand. Varex’s global footprint also provides resilience against regional market fluctuations and allows it to support multinational customers with consistent product quality and regulatory compliance.

Leadership & Governance

Varex is led by an executive team with deep experience in medical technology, manufacturing, and global operations. Leadership emphasizes operational excellence, customer-centric innovation, and disciplined financial management to navigate the capital-intensive and cyclical nature of the imaging industry. The company operates under a governance framework aligned with U.S. public company standards.

Key executives include:

• Sunny Sanyal – Chief Executive Officer
• Jefry H. Jones – Chief Financial Officer
• Rohit Khanna – Senior Vice President, General Counsel & Secretary
• David J. Flinn – President, Medical Segment
• Keith C. J. Williams – President, Industrial Segment

The leadership team’s strategic vision focuses on strengthening Varex’s role as a critical enabling partner to imaging system manufacturers while advancing technology platforms that support long-term growth and margin stability.