Siemens Healthineers to buy US-based medical firm Varian for $16.4bn – The National

Siemens Healthineers to buy US-based medical firm Varian for $16.4bn – The National

The German conglomerate will provide bridge financing for the dea





























 A workshop of computed tomography (CT) scanners of medical device firm Siemens Healthineers in China. The company aims to be a leader in cancer care with its latest acquisition. Reuters





















Aug 2, 2020



August 2, 2020













German health group Siemens Healthineers said on Sunday it would acquire Varian Medical Systems in a deal that values the US maker of devices and software for cancer treatments at $16.4 billion (Dh60.2bn).



Under the agreed transaction, Siemens Healthineers will acquire all shares in Varian for $177.50 each in cash, representing a 24 per cent premium to the US company's closing price on Friday.



Industrial conglomerate Siemens, which spun off Healthineers in 2018 but retains a controlling stake, will provide bridge financing for the deal, which seeks to create a global leader in cancer care solutions by 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