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Stock Market & Financial Investment News

News Breaks
January 27, 2014
08:03 EDTTOSBF, VARVarian Medical enters into $515M supply agreement with Toshiba Medical Systems
Varian Medical Systems (Var) has entered into a three-year agreement worth an estimated $515M for Varian to supply medical imaging components to Toshiba (TOSBF) Medical Systems for integration into imaging equipment for the global market. Orders will be booked over the period of the agreement.
News For VAR;TOSBF From The Last 14 Days
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July 27, 2015
08:07 EDTVARVarian Medical selected by NHS to equip two therapy centers
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06:39 EDTTOSBFToshiba develops new process technologies for MCUs, wireless ICs, DigiTimes says
Toshiba announced the development of 2 new process technologies for low-cost applications such as microcontrollers, wireless communication ICs, motor controller drivers and power supply ICs, reports DigiTimes. In response to strong demand for low power consumption in areas using wearable and healthcare-related equipment, Toshiba adopted SST's third-generation SuperFlash cell technology, in combination with its own 65nm logic process technology. Reference Link
July 22, 2015
17:21 EDTTOSBFSanDisk does not expect Toshiba announcement to impact financial results
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July 21, 2015
08:35 EDTVARVarian Medical signs agreement to operate first proton facility in New York
Varian Medical Systems (VAR) announced that it has entered into an agreement with New York Proton Management, a consortium of leading New York healthcare institutions including Memorial Sloan Kettering Cancer Center, Mount Sinai Health System, Montefiore Health System, and ProHEALTH Medical Management formed to operate The New York Proton Center, the first proton facility in New York State. Varian will provide the center, which will have four treatment rooms and a research room, with its ProBeam system, as well as 10 years of service for approximately $115M. The center, which will be located in Manhattan, is expected to open for treatment in the first half of 2018. Varian expects to book the equipment portion of the order in Q4 with the remainder of the order to be booked in accordance with the company's policies over the term of the agreement. Under an agreement with MM Proton I, LLC, the project developer, Varian's international subsidiary in Switzerland will provide $91.5M in project financing, including a six-and-half-year $73M senior first lien loan at 9% interest and a six-and-half-year $18.5M subordinate loan at up to 13.5% interest. Other lenders for the $242.7M in total project loans include JPMorgan Chase Bank (JPM) and an affiliate of The Goldman Sachs Group (GS). The project facility is managed by Murphy & McManus, a Boston-based developer of healthcare and life science facilities and Norton Travis of NLT Advisors served as project coordinator on behalf of the consortium.
05:46 EDTTOSBFToshiba CEO Hisao Tanaka resigns following accounting scandal, BBC reports
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July 20, 2015
11:30 EDTTOSBFToshiba to restate past profits by at least Y151.8B after probe
Toshiba provided notice earlier that it received the investigation report from its independent investigation committee and reported that it must correct at least Y151.8B of pretax earnings over a period from fiscal year 2008 to fiscal year 2014 through the third quarter. The company will review fiscal 2014 earnings with auditors and submit its result by the end of August, the company noted. Reference Link
July 19, 2015
18:22 EDTTOSBFJapanese regulator to pursue penalty for Toshiba, Nikkei says
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July 17, 2015
06:12 EDTTOSBFToshiba executives involved in improper accounting, probe finds, Reuters reports
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July 15, 2015
08:50 EDTTOSBFToshiba to book charges of $2.4B-$3.2B for improper accounting, Reuters says
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08:07 EDTVARVarian Medical commences treatment of RapidPlan in Australia
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06:06 EDTTOSBFToshiba CEO, Vice Chairman expected to step down in September, Reuters reports
Toshiba CEO Hisao Tanaka is expected to step down in September in order to take responsibility for accounting irregularities which sources say led to profits being overstated by over Y170B, or $1.2B, Reuters reports. Other board members, including Vice Chairman Norio Sasaki, are also expected to step down, the sources say. Reference Link

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