Varian Medical Systems said last week it signed a $450 million deal with Toshiba Medical Systems to supply subcomponents for diagnostic imaging equipment. The contract lasts three years, the companies said.

Palo Alto, Calif.-based Varian and Tustin, Calif.-based Toshiba have worked together for the past three decades. In 2008, Varian and Toshiba signed a $320 million, three-year contract.

"Over the years, our two companies have developed a close cooperation at all levels of the business," said Robert Kluge, corporate senior vice president with Varian, in a statement. "We have complementary design engineering and manufacturing capabilities, and work together well to realize new products and improve existing ones."

More Industry Headlines