Varian Medical Systems (NYSE:VAR) today announced that it plans to spin off its Imaging Components business as a new, stand-alone public company via a tax-free distribution to Varian stockholders in a transaction anticipated to be completed by the end of calendar year 2016.

“The spin-off will create two strong, independent companies,” said Dow Wilson, CEO of Varian Medical Systems.  “It will enable Varian to focus on expanding its position as a global cancer company with leading technology and services.  It will empower the new company to grow as a global leader in components, software and services for expanded imaging applications and markets.” Read more…