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 and cash, Palo Alto-based Varian said, and and prompted the company to cut its fiscal 2019 earnings guidance to adjusted earnings per share of $4.55 to $4.70, down from $4.60 to $4.75 previously.
CTSI reported annual revenues of $43.5 million during the fiscal year ended March 31.
Last month Varian acquired privately-held CyberHeart and its cardiac radioablation tech and inked a cooperative deal with China’s Shangdong Cancer Hospital for proton therapy applications and research. Earlier this month the company paid $185 million for two companies – Endocare and Alicon – to add to its cancer care solutions portfolio.