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Siemens Healthineers To Acquire Varian Medical For $16.4 Billion

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SEMHF) announced that it plans to acquire U.S. cancer device and software company Varian Medical Systems (VAR) in an all-stock deal valued at $16.4 billion.” data-reactid=”12″>Siemens Healthineers AG (SEMHF) announced on Sunday that it plans to acquire U.S. cancer device and software company Varian Medical Systems (VAR) in an all-stock deal valued at $16.4 billion.

As part of the purchase agreement, Siemens will acquire all of Varian’s shares for $177.50 per share in cash, which reflects a 24% premium to the company’s closing price of $142.72 on Friday. The deal builds on a long-standing partnership between the two companies to develop improved cancer therapy solutions – from medical imaging for treatment planning, focused radiation therapy, to laboratory diagnostics – for efficient workflow and effective, personalized treatment.

The acquisition is expected to positively contribute to Siemens’ adjusted basic EPS within the first 12 months following its closure, which is scheduled for the first half of 2021. In addition, Siemens aims for EBIT synergies of at least EUR 300 million per annum in fiscal 2025.

“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,” said Siemens Healthineers CEO Bernd Montag. “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.”

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Akinola
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