Siemens Healthineers acquisition of Varian Medical Systems : Germany-based Siemens Healthineers has signed an all-cash deal worth around $16.4 billion to acquire US-based cancer care technologies developer Varian Medical Systems with an objective to strengthen its oncology portfolio and bolster its position in the healthcare sector.
Based in California, Varian Medical Systems is among the major players in the field of cancer care, with its innovative solutions, particularly in radiation oncology and related software. The company is said to have a holistic approach to cancer care and is said to be growingly tapping into technologies like artificial intelligence, machine learning, and data analysis for enhancing cancer treatment and expand access to care.
Siemens Healthineers, which is acquiring the cancer care technologies developer for $177.50 per share, said that the latter is an ideal fit for its businesses in medical imaging, laboratory diagnostics, and also interventional procedures.
Dr. Bernd Montag – CEO of Siemens Healthineers, commenting on Siemens Healthineers acquisition of Varian Medical Systems, said: “With this combination of two leading companies we make two leaps in one step: A leap in the fight against cancer and a leap in our overall impact on healthcare.
“This decisive moment in the history of our companies means more hope and less uncertainty for patients, an even stronger partner for our customers, and for society more effective and efficient medical care. Together with Varian’s outstanding and passionate employees, we will shape the future of healthcare more than ever before.”
Both the medical technology companies have been working together since 2012 through the “EnVision” partnership aimed at shaping the future of cancer treatment by combining Varian Medical Systems’ innovative therapeutic systems and Siemens Healthineers’ imaging technology. Siemens Healthineers said that the acquisition is built on this partnership for developing better cancer therapy solutions – from imaging for treatment planning to focused radiation therapy, for efficient workflow and effective, customized treatment.
Commenting on Siemens Healthineers acquisition of Varian Medical Systems, Dow Wilson – President and CEO of Varian Medical Systems, said: “Varian’s innovative and patient centric culture has enabled us to become an iconic leader in radiotherapy and multi-disciplinary cancer care, with a trusted global brand and strong customer loyalty.
“Siemens Healthineers values our talented and engaged employees and recognizes the strength of the Varian brand, our cutting-edge portfolio, and the relationships we’ve nurtured. We are thrilled to partner with Siemens Healthineers to extend our renowned customer care, serving clinicians and patients from the very first stage in the fight against cancer.
“With Siemens Healthineers, we will transform care for a greater number of patients worldwide, as well as broaden opportunities for our employees as part of a larger and more global organization. That is why our Board is confident that combining with Siemens Healthineers is the right path forward for Varian – delivering immediate and compelling value to our shareholders, while bringing us even closer to our transformative vision of a world without fear of cancer.”
Siemens Healthineers acquisition of Varian Medical Systems is expected to be wrapped up in the first half of next year should it be approved by the latter’s shareholders, secure regulatory approvals, and satisfy other customary closing conditions.