Varian Medical Systems' Take on Emerging Markets
"Let me kind of underscore one of the things I had pointed out in the call weak [in] Japan, weak [in] Europe. The emerging markets weak [in] Russia for sure, but we had some Latin America activity that wasn't too bad. China as I mentioned was down. But we kind of have a timing issue with that . . . So we actually think China is going to be okay.
The long term is where we still think these markets are going to grow we've built that market development team . . . But we were clearly looking at this very opportunistically and strategically for the long-term.
. . . Global markets have been weakened by ongoing political unrest, weak oil prices, and economic uncertainty. In EMEA, for example, Russia announced further delays in its cancer plan, Germany scaled back investments, and the Middle East was negatively impacted by political unrest and falling oil prices.
. . . Economic uncertainty was also a prime cause of weakness in Japan, which led to an overall orders decline in APAC (Asia Pacific)."
--Dow Wilson, Varian Medical Systems president and CEO, according to a Seeking Alpha transcript of the company's first quarter of fiscal year 2016 earnings call.
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