Siemens Healthineers to buy US cancer care firm Varian

Germany-based Siemens Healthineers said Sunday it will buy US cancer therapy and research company Varian in a deal worth around USD 16.4 billion. Palo Alto, California-based Varian had revenues in the 2019 fiscal year of USD 3.2 billion, Siemens Healthineers said in a statement.

Germany-based Siemens Healthineers said Sunday it will buy US cancer therapy and research company Varian in a deal worth around USD 16.4 billion. Siemens Healthineers, in which industrial conglomerate Siemens holds a majority stake, said it will buy all shares in Varian Medical Systems, Inc. for USD 177.50 per share in cash.

It said that the acquisition is expected to close in the first half of 2021, and requires the approval of regulators and Varian shareholders. Varian's board of directors unanimously approved the agreement, it added. Palo Alto, California-based Varian had revenues in the 2019 fiscal year of USD 3.2 billion, Siemens Healthineers said in a statement. Varian says it employs about 10,000 people around the world.