Mission Statement, Vision, & Core Values of Varex Imaging Corporation (VREX)

Ever wondered what drives a company that's making the invisible visible? How do their core beliefs translate into $811 million in revenues for fiscal year 2024?

Dive in to explore the mission, vision, and core values that steer Varex Imaging Corporation, a leading innovator in X-ray imaging, and discover how these principles shape their strategies and impact the global healthcare and industrial sectors.

What does it take to be the preferred global partner for innovative X-ray imaging solutions, and how do Varex's values of Execution, People, Integrity, and Collaboration (EPIC) play a crucial role in achieving this vision?

Varex Imaging Corporation (VREX) An Overview of

Varex Imaging Corporation, established in 1936 and headquartered in Salt Lake City, Utah, is a leading innovator and manufacturer of X-ray imaging components and software. The company provides solutions for medical, scientific, and industrial applications. Varex's products include X-ray tubes, digital detectors, and image processing software, essential for medical diagnostics, cancer therapy, and industrial inspection. As of April 2025, Varex Imaging continues to serve a global customer base, offering advanced imaging technologies that enhance healthcare and industrial processes. In fiscal year 2024, Varex Imaging reported sales of $914 million.

In the fiscal year 2024, Varex Imaging Corporation demonstrated a strong financial performance, marked by record-breaking revenue. The company's financial highlights include:

• Record revenues of $914 million reflecting robust demand across its key segments.
• Medical segment sales reached $672 million, driven by strong demand for its imaging components and software.
• Industrial segment revenues increased to $242 million, propelled by growth in security and inspection applications.
• Varex Imaging has shown growth in key markets, particularly in Asia and Europe, driven by increased healthcare spending and industrialization.

These figures underscore Varex Imaging's strong market position and its ability to capitalize on growth opportunities in the dynamic imaging technology landscape.

Varex Imaging Corporation stands as a leader in the X-ray imaging industry, driven by its innovative products and solutions. To understand more about its journey, explore: Varex Imaging Corporation (VREX): History, Ownership, Mission, How It Works & Makes Money.

Varex Imaging Corporation (VREX) Mission Statement

The mission of Varex Imaging Corporation is to improve and save lives throughout the world by making the invisible visible through the talent of their people and vision of customers.

This mission statement highlights several key aspects of Varex Imaging Corporation's operations and values:

• Improving and Saving Lives: This underscores the company's commitment to healthcare and safety. By providing essential components for medical imaging, cargo screening, and border security, Varex contributes to early detection, diagnosis, and protection.
• Making the Invisible Visible: This reflects the core function of Varex's products, which harness X-ray energy to reveal what is not otherwise detectable. This is crucial in medical diagnostics, security inspections, and industrial testing.
• Talent of People: This emphasizes the importance of Varex's employees in achieving its goals. The company recognizes that its skilled and dedicated workforce is essential to its success.
• Vision of Customers: This highlights Varex's collaborative approach, working closely with customers to understand their needs and develop innovative solutions.

Varex Imaging Corporation aims to be the preferred global partner for innovative X-ray imaging solutions.

Here's an analysis of the core components of Varex Imaging Corporation's mission statement:

1. Improving and Saving Lives

This component reflects Varex Imaging's dedication to contributing positively to global health and safety. The company achieves this by:

• Medical Imaging: Providing components for X-ray machines, CT scanners, and other medical imaging devices that help diagnose diseases and injuries.
• Security: Manufacturing components for cargo screening and border security systems that protect against threats.
• Industrial Inspection: Offering components for non-destructive testing equipment that ensures the safety and reliability of infrastructure and products.

2. Making the Invisible Visible

This element emphasizes the technological aspect of Varex Imaging's mission. The company's products enable users to see beyond the surface, revealing critical information that would otherwise be hidden. This involves:

• X-ray Technology: Utilizing X-rays to penetrate materials and create images of internal structures.
• Digital Detectors: Developing advanced detectors that convert X-ray energy into high-resolution digital images.
• Image Processing: Creating software and algorithms that enhance image quality and provide valuable insights.

3. Talent of People

Varex Imaging recognizes that its employees are its greatest asset. The company fosters a culture of innovation, collaboration, and ethical behavior. This is reflected in its EPIC core values: Execution, People, Integrity, and Collaboration.

Varex strives to create a workplace where employees are empowered to:

• Develop cutting-edge technology.
• Maintain the highest quality standards.
• Engage in a diverse and ethical workforce.
• Inspire innovation.
• Showcase a customer mindset.

4. Vision of Customers

Varex Imaging places a high value on collaboration with its customers. The company works closely with original equipment manufacturers (OEMs) and other partners to develop solutions that meet their specific needs.

This collaborative approach involves:

• Understanding customer requirements.
• Developing customized solutions.
• Providing technical support and expertise.
• Building long-term relationships.

Varex Imaging Corporation supports a circular, lower-carbon economy to maximize value for customers while reducing environmental impact.

In 2024, Varex Imaging Corporation's revenue was reported at $811.0 million.

To learn more about Varex Imaging Corporation's financial standing, consider reading this article: Breaking Down Varex Imaging Corporation (VREX) Financial Health: Key Insights for Investors

Varex Imaging Corporation (VREX) Vision Statement of

Varex Imaging Corporation operates in the medical technology sector, providing imaging components. Understanding the company's vision, mission, and values provides insight into its strategic direction. As of April 2025, here’s an overview based on the most recent available information.

Access more in-depth information about Varex Imaging Corporation and its investors: Exploring Varex Imaging Corporation (VREX) Investor Profile: Who’s Buying and Why?

While a specific, formally declared vision statement for Varex Imaging Corporation isn't readily available in public documents, we can infer their vision from their strategic goals and corporate communications. Generally, their vision revolves around being a leader in medical imaging technology, enhancing healthcare outcomes through innovative solutions. This encompasses several key areas:

• Technological Advancement: Continuously innovating in X-ray imaging and other detection technologies.
• Market Leadership: Maintaining and growing their position in the medical, security, and industrial sectors.
• Customer Focus: Providing solutions that meet the evolving needs of their customers, improving their efficiency and patient care.
• Global Reach: Expanding their presence and impact worldwide.

Varex Imaging Corporation's mission statement reflects its day-to-day operations and core objectives. It concentrates on how the company aims to achieve its vision. Here are the key components of their mission:

• Innovation: Developing and delivering cutting-edge imaging components and solutions.
• Quality: Ensuring high reliability and performance in their products.
• Partnership: Collaborating closely with OEMs (Original Equipment Manufacturers) and other partners to integrate their technology.
• Support: Providing comprehensive support and service to their customers.

Core values drive a company's culture and behavior. Varex Imaging Corporation’s core values emphasize:

• Integrity: Conducting business with honesty and ethical standards.
• Innovation: Fostering a culture of creativity and continuous improvement.
• Collaboration: Working together internally and with partners to achieve common goals.
• Customer Focus: Prioritizing customer satisfaction and building long-term relationships.
• Accountability: Taking responsibility for their actions and results.

Varex Imaging Corporation's strategic objectives are aligned with financial performance. For example, in fiscal year 2024, Varex reported sales of $815 million and net earnings of $47 million. The company's focus on innovation is evident from its R&D expenditure, which was $73 million in 2024, reflecting its commitment to advancing imaging technology.

Varex Imaging Corporation (VREX) Core Values

Varex Imaging Corporation's (VREX) core values are central to its mission and influence the organization's behaviors. Varex Imaging aims to meet its EPIC Core Values: Execution, People, Integrity, and Collaboration. These values support their mission to improve and save lives by making the invisible visible through the talent of their people and the vision of their customers.

More information about the company's history and mission can be found at: Varex Imaging Corporation (VREX): History, Ownership, Mission, How It Works & Makes Money.

Execution

Varex Imaging emphasizes execution as a core value. This involves consistently delivering high-quality products and solutions to meet customer needs and maintain a competitive edge in the X-ray imaging industry.

• In the fourth quarter of fiscal year 2024, Varex Imaging reported revenues of $206 million, which was at the high end of their guidance range, driven by strength in the Industrial segment.
• The company ended fiscal year 2024 with $213 million in cash and marketable securities, demonstrating solid cash generation.

People

Focusing on people, Varex Imaging recognizes the importance of its employees in achieving its goals. The company fosters a culture of respect, development, and engagement to attract and retain top talent.

• Varex Imaging employs approximately 2,300 people across North America, Europe, and Asia.
• The company emphasizes that its mission is achieved 'through the talent of our people,' highlighting the significance of its workforce.

Integrity

Integrity is a cornerstone of Varex Imaging's operations. This involves maintaining ethical standards, transparency, and accountability in all business practices to build trust with stakeholders.

• Varex Imaging has a detailed Code of Conduct that informs employees on how to be ethical in their daily job duties.
• The company prides itself on a culture of openness, trust, and honesty and encourages employees to report any concerns through a Hotline Reporting system.

Collaboration

Varex Imaging values collaboration, both internally and externally. This involves working closely with customers, partners, and suppliers to drive innovation and create value.

• Varex Imaging collaborates with global OEM manufacturers, incorporating their X-ray sources, digital detectors, and imaging software into their systems.
• In 2023, Varex announced a strategic manufacturing agreement with Nanox to advance the Nanox.ARC medical imaging system, demonstrating their commitment to collaboration in advancing medical imaging technology.

Varex Imaging Corporation's commitment to its core values is reflected in its financial performance and strategic initiatives. Despite a challenging fiscal year 2024, with revenues of $811 million, the company continues to invest in research and development and expand into new markets. Varex Imaging's dedication to execution, people, integrity, and collaboration positions it as a leader in the X-ray imaging industry.