Varian Medical Systems (NYSE:VAR) announced today that its stockholders approved the pending combination with Siemens Healthineers (ETR:SHL).
Stockholders from the Palo Alto, Calif.-based cancer care technology developer voted overwhelmingly in favor of the transaction at a special meeting, according to a news release.
In August, the companies announced that Siemens would acquire Varian in a $16.4 billion deal to create what the companies said will be the most comprehensive cancer care portfolio in the industry.
Varian said it continues to work toward completing the transaction, which it expects will be finished in the first half of calendar year 2021, subject to customary closing conditions.
“The overwhelming support our stockholders have expressed for this combination reflects the compelling value and important opportunity to shape the future of healthcare we see with Siemens Healthineers,” Varian president & CEO Dow Wilson said in the release. “This vote brings us closer not only toward completing this transformative combination, but also toward realizing our vision of a world without fear of cancer. We look forward to securing the remaining regulatory approvals and closing the transaction.”
