A workshop of computed tomography scanners of Siemens Healthineers in Shanghai, China. – REUTERSPIXGerman health group Siemens Healthineers said today it was buying Varian Medical Systems Inc of the United States for US$16.4 billion in a deal that seeks to create the global leader in cancer care solutions.
Under the agreed transaction, Healthineers will acquire all shares in Varian for US$177.50 each in cash, representing a 24% premium to the US company's closing price on Friday and 42% above its 30-day weighted average. Through the deal to buy Varian, Healthineers acquires the leader in radiation therapy with a market share of over 50%.
"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," Varian president and chief executive officer Dow Wilson said.