Siemens Healthineers to acquire Varian for $16.4 billion

BERLIN (Reuters) – German health group Siemens Healthineers (SHLG.DE) stated on Sunday it would acquire Varian Medical Systems Inc (VAR.N) in an offer that values the U.S. maker of gadgets and software application for cancer treatments at $164billion

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SUBMIT IMAGE: A staffer deals with a magnetic resonance imaging maker at an assembly line of Siemens Healthineers in Shenzhen, China May 25,2018 REUTERS/Bobby Yip

Under the concurred deal, Siemens Healthineers will acquire all shares in Varian for $17750 each in money, representing a 24% premium to the U.S. business’s closing cost onFriday

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Industrial corporation Siemens (SIEGn.DE), which spun off Healthineers in 2018 however maintains a managing stake, will supply bridge funding for the offer, which looks for to develop an international leader in cancer care services by2025

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“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,” stated Bernd Montag, CEO of SiemensHealthineers

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Varian President and Chief Executive Officer Dow Wilson stated: “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.”

The offer, initially reported by Bloomberg, is subject to approval by Varian investors and regulators. It is anticipated to close in the very first half of 2021 and be accretive to Siemens …

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