UPDATED July 2, 2019, with financial details, comment from Varian. Looking to mollify anti-trust regulators about its pending $4 billion merger with BTG (LON:BTG), Boston Scientific (NYSE:BSX) said today that it agreed to deal its microsphere assets to Varian Medical (NYSE:VAR) for $90 million. The deal for the drug-eluting and “bland” embolic microsphere business includes Marlborough, Mass.-based Boston […]
Varian closes $283m Cancer Treatment Services buyout
Varian Medical (NYSE:VAR) said today that it closed the $283 million deal to acquire Cancer Treatment Services International and its network of oncology centers on the Indian subcontinent. When it announced the buyout last month, Varian said that it hoped to increase its expertise in cancer care center operations. The deal was financed via a credit facility […]
Varian adds to cancer care portfolio with $185m acquisition
Varian Medical (NYSE:VAR) said this week that it purchased two companies – Endocare and Alicon – to add to its cancer care solutions portfolio. The $185 million acquisition was financed with cash and proceeds from borrowings. Combined, Endocare and Alicon reeled in $30 million in revenues last year. Texas-based Endocare provides hardware and softwre for cryoablation […]
Varian Medical to pick up Cancer Treatment Services Int’l for $283m
Varian Medical (NYSE:VAR) said today that it inked a deal to acquire Cancer Treatment Services International for $283 million. Privately held CTSI operates the Hyderabad-based American Oncology Institute and 10 multidisciplinary radiation, medical and surgical oncology cancer centers across the Indian subcontinent and a U.S.-based oncology solutions division, Palo Alto, Calif.-based Varian said. Varian said that […]
Varian acquires CyberHeart, inks deal with China’s Shangdong Cancer Hospital
Varian Medical (NYSE:VAR) said today that it acquired privately-held CyberHeart and its cardiac radioablation tech, and that it inked a cooperative deal with China’s Shangdong Cancer Hospital for proton therapy applications and research. Palo Alto, Calif.-based Varian said that early clinical evidence from studies of CyberHeart’s cardiac radioablation technology indicated it “has the potential to offer […]
Varian shares dip on mixed-bag Q2 earnings
Shares in Varian Medical (NYSE:VAR) have fallen slightly today after the medical device maker posted fiscal year 2019 second quarter earnings that topped sales expectations but missed on earnings per share consensus on Wall Street. The Palo Alto, Calif.-based company posted profits of $88.4 million, or 96¢ per share, on sales of $779.4 million for the […]
Varian Medical wins $7m DoD contract
Varian Medical (NYSE:VAR) has won an approximately $7.1 million delivery order against a five-year basic ordering agreement to supply the U.S. Department of Defense with two linear accelerator systems, according to a recently released DoD posting. The deal comes through a one-year contract with no option periods, and was a competitive acquisition with two offers received […]
Varian Medical joins embolic therapy tech dev ABK Biomedical’s $30m Series B
Varian Medical (NYSE:VAR) has joined a $30 million Series B round of financing for embolic therapy tech developer ABK Biomedical. Palo Alto, Calif.-based Varian Medical Systems led the round alongside F-Prime Capital, Halifax, Nova Scotia-based ABK Biomedical said. “ABK has a unique approach to address a large unmet need for patients with non-resectable liver tumors. This […]
Varian leads $54m Series C for HistoSonics
HistoSonics said today that it closed a $54 million Series C round led by Varian Medical (NYSE:VAR) that included a contribution from Johnson & Johnson (NYSE:JNJ). The Ann Arbor, Mich.-based company, which is developing an image-guided, robotically assisted platform using non-invasive and non-thermal technologies, said Lumira Ventures, Venture Investors, the State of Wisconsin Investment Board and […]
Varian misses expectations for Q1 earnings despite swing to black
Varian Medical (NYSE:VAR) today posted fiscal first-quarter results today that missed the consensus forecast on Wall Street by a penny, despite a swing to black ink for the period. The Palo Alto, Calif.-based company reported profits of $103.2 million, or $1.12 per share, on sales of $741.0 million for the three months ended Dec. 28, 2018. […]
Varian wins US tariff exclusion for Chinese-produced Halcyon systems
Varian Medical (NYSE:VAR) said today that the U.S. Trade Representative granted it a tariff exemption for its Halcyon radiotherapy system, which would normally be subject to Section 301 tariffs due to it being manufactured in China. The Palo Alto, Calif.-based company said that the exception will have a less than $1 million impact on its financial results […]
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