California device maker Varian Medical (NYSE:VAR) remained tight-lipped about its bid for software maker Velocity Medical Solutions as it announced the acquisition’s close today.
Velocity develops software that aggregates treatment and imaging data from cancer patients’ medical records, collecting information that may otherwise be dispersed among many clinics and databases. Varian plans to continue development in Atlanta, Ga., according to a press release.
The companies chose to keep the financial terms under wraps, but Varian said last month that it aims to use the buy to boost its offering of data-driven clinical decision-making support for clinicians.
"We believe that the Velocity software has the potential to play an important role at the over 4400 cancer centers currently utilizing Varian technology," Varian oncology systems president Kolleen Kennedy said at the time. "The software enables health care professionals to use oncology patient images and data to plan and assess treatments, collaborate with colleagues, and share clinical knowledge – all important capabilities in an era of evidence-based medicine."
VAR shares gained modestly today, trading 0.8% higher at $85.46 as of about 12:50 p.m. The stock has gained nearly 10% since the start of the year.
