Hot on the heels of the $4 billion buyout of BTG by Boston Scientific (NYSE:BSX), Varian (NYSE:VAR) said yesterday that it closed the $90 million acquisition of Boston’s microspheres business.
The deal for the drug-eluting and “bland” embolic microsphere business, which includes the Oncozene, Embozene and Embozone Tandem products, was struck to mollify anti-trust regulators about the BTG buyout. The business put up sales of $21.2 million last year for Marlborough, Mass.-based Boston Scientific.
When the deal was announced in July, Varian CEO Dow Wilson said it was part of the Palo Alto, Calif.-based company’s long-term plan to offer a multidisciplinary, integrated line of cancer treatments. The addition is not expected to affect its fiscal year 2019 results but to add to both reported earnings and adjusted earnings in fiscal 2020, the company said at the time.
Boston closed the BTG acquisition earlier this week.
