About Varex
Varex is a company based in Salt Lake City (United States) founded in 2017.. The company has 2,300 employees as of September 30, 2024. Varex has completed 1 acquisition, including Direct Conversion. Varex offers products and services including X-ray Tubes, X-ray Detectors, High Voltage Interconnect, and Software Solutions. Varex operates in a competitive market with competitors including Siemens Healthineers, Olympus, Lantheus, Carestream and United Imaging Healthcare, among others.
- Headquarter Salt Lake City, United States
- Employees 2300 as on 30 Sep, 2024
- Stage Public
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
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- Legal Name Varex Imaging Corporation
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Annual Revenue
$811 M-9.22as on Sep 30, 2024
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Net Profit
$-47.7 M-198.96as on Sep 30, 2024
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EBITDA
$63.2 M-42.7as on Sep 30, 2024
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Latest Funding Round
$175 M (USD), Post-IPO
Jun 05, 2020
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Investors
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Employee Count
2300
as on Sep 30, 2024
- Investments & Acquisitions
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IPO & Listings of Varex
Varex is a publicly listed company on the NASDAQ with ticker symbol VREX in USA, operating in the Health technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Varex
Varex offers a comprehensive portfolio of products and services, including X-ray Tubes, X-ray Detectors, High Voltage Interconnect, and Software Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Components for X-ray imaging in diagnostics and procedures
Detectors used in medical and industrial scanning applications
Connectors for X-ray systems in various sectors
Software for X-ray image processing and analysis
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Software Development Team
40 people
Leadership Team
15 people
Product Management Team
11 people
Senior Team
11 people
Finance and Accounting
11 people
Operations Team
6 people
Sales and Marketing
5 people
Electrical Team
4 people
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Funding Insights of Varex
- Total Funding Total Funding
- Total Rounds 1
- Last Round Post-IPO — $175.0M
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First Round
First Round
(05 Jun 2020)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jun, 2020 | Amount | Post-IPO - Varex | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investments & Acquisitions by Varex
Varex has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Direct Conversion. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Developer of photon counting direct conversion based digital X-ray imaging systems
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Varex
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Varex Comparisons
Competitors of Varex
Varex operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Siemens Healthineers, Olympus, Lantheus, Carestream and United Imaging Healthcare, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
AI-based medical diagnostics are developed for healthcare applications.
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| domain | founded_year | HQ Location |
Manufacturer of imaging and surgical products
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| domain | founded_year | HQ Location |
Developer of diagnostic imaging agents and targeted therapeutics
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| domain | founded_year | HQ Location |
Developer of diagnostic imaging and healthcare information technology systems for hospital use
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| domain | founded_year | HQ Location |
Provider of portfolio of imaging devices for diagnostic and treatment purposes
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Varex
Frequently Asked Questions about Varex
When was Varex founded?
Varex was founded in 2017 and raised its 1st funding round 3 years after it was founded.
Where is Varex located?
Varex is headquartered in Salt Lake City, United States. It is registered at Salt Lake City, Utah, United States.
How many employees does Varex have?
As of Sep 30, 2024, the latest employee count at Varex is 2,300.
What is the annual revenue of Varex?
Annual revenue of Varex is $811M as on Sep 30, 2024.
What does Varex do?
Founded in 2017 and based in Salt Lake City, United States, imaging components are produced by the company for security and industrial applications. Products encompass replacement and OEM X-ray tubes, flat panel detectors, software solutions, high voltage connections, collimators, bucky systems, and AEC sensors. Operations focus on providing these devices to support diagnostic and inspection needs across relevant sectors.
Who are the top competitors of Varex?
Varex's top competitors include Olympus, Siemens Healthineers and United Imaging Healthcare.
What products or services does Varex offer?
Varex offers X-ray Tubes, X-ray Detectors, High Voltage Interconnect, and Software Solutions.
Is Varex publicly traded?
Yes, Varex is publicly traded on NASDAQ under the ticker symbol VREX.
How many acquisitions has Varex made?
Varex has made 1 acquisition, including Direct Conversion.
What is Varex's ticker symbol?
The ticker symbol of Varex is VREX on NASDAQ.
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