Company Overview

Varex Imaging Corporation is a U.S.-based medical technology and industrial imaging company that designs and manufactures X-ray imaging components, systems, and software used in medical, dental, veterinary, security, and industrial inspection applications. The company operates primarily in the diagnostic imaging industry and supplies critical components for X-ray imaging systems, including X-ray tubes, digital detectors, image-processing software, and high-voltage connectors. Varex serves original equipment manufacturers (OEMs), healthcare providers, industrial inspection firms, and security screening markets worldwide.

The company’s principal revenue drivers are its Medical Segment and Industrial Segment, with medical imaging products representing the majority of revenue according to publicly reported filings. Varex was formed in 2017 following the spin-off of Varian Medical Systems’ imaging components business into an independent publicly traded company. Its strategic positioning is supported by a broad installed customer base, long-term OEM relationships, vertically integrated imaging technologies, and participation across both healthcare and non-medical imaging markets.

Business Operations

Varex organizes operations primarily through its Medical Segment and Industrial Segment. The Medical Segment develops X-ray tubes, flat panel detectors, software solutions, and accessories used in radiography, fluoroscopy, mammography, computed tomography (CT), and dental imaging systems. The Industrial Segment supplies imaging technologies for cargo screening, industrial non-destructive testing, and security inspection systems. Revenue is generated through product sales, replacement component demand, software offerings, and long-term supply relationships with global imaging equipment manufacturers.

The company maintains manufacturing, engineering, and operational facilities across North America, Europe, and Asia. Varex controls several core imaging technologies, including proprietary detector architectures and X-ray tube technologies. Its operations also include software and artificial intelligence-enabled imaging workflows intended to improve image quality and operational efficiency. The company has maintained strategic relationships with healthcare OEMs and industrial imaging customers while also operating through subsidiaries and regional entities supporting manufacturing, distribution, and customer service activities globally.

Strategic Position & Investments

Varex’s strategic direction has focused on expanding higher-margin digital imaging technologies, increasing software-enabled imaging capabilities, and diversifying exposure beyond traditional medical imaging into industrial and security markets. Company filings and investor materials indicate continued investment in digital detectors, advanced CT imaging, AI-assisted imaging workflows, and next-generation X-ray source technologies. The company has also emphasized operational efficiency initiatives and supply chain optimization in response to industry demand fluctuations and global manufacturing challenges.

The company has pursued acquisitions and technology investments intended to strengthen detector technology and imaging software capabilities. Notable portfolio elements have included imaging software platforms and detector businesses integrated into its broader imaging ecosystem. Varex has also invested in emerging applications such as photon-counting CT technologies, advanced cargo screening systems, and industrial inspection solutions. Public disclosures indicate that research and development spending remains a central component of its long-term competitive strategy.

Geographic Footprint

Varex is headquartered in Salt Lake City, Utah, and operates across multiple international regions, including North America, Europe, and Asia-Pacific. The company maintains manufacturing and engineering operations in the United States and internationally, including facilities in countries such as China and Germany. Its products are distributed globally through direct sales channels and OEM partnerships.

The company derives a substantial portion of revenue from international markets, reflecting broad demand for medical imaging infrastructure and industrial inspection technologies. Varex maintains operational and commercial influence in developed healthcare markets as well as emerging economies investing in diagnostic imaging capacity, security screening infrastructure, and industrial automation. Its global customer base includes major medical imaging system manufacturers, healthcare institutions, and industrial inspection providers.

Leadership & Governance

Varex operates under a corporate governance structure led by an executive management team and board of directors responsible for strategic oversight, capital allocation, operational performance, and technology investment. Since becoming an independent public company, leadership has emphasized innovation in imaging components, expansion into adjacent imaging markets, and disciplined operational management. Public statements and investor communications have consistently highlighted long-term growth through technology leadership and diversified imaging applications.

Key executives include:

• Sunny Sanyal – President and Chief Executive Officer
• Clarence Verhoef – Chief Financial Officer
• Randy Gray – Senior Vice President and Chief Operations Officer
• Shalman Jaffrin – Senior Vice President and Chief Commercial Officer
• Ross Taylor – Senior Vice President and Chief Legal Officer
• Jacob Gitlin – Senior Vice President and Chief Technology Officer