Siemens Healthineers Completes Acquisition

Today, Siemens Healthineers has announced the completion of the acquisition of Varian Medical Systems. In August, the companies had announced the acquisition of Varian by Siemens in a $16.4 billion deal to create the most comprehensive cancer care portfolio in the industry according to the companies. Varian shareholders approved the deal in October and several personnel moves have followed that.

The resignation of Varian CFO J. Michael Bruff and the planned retirement of Varian CEO Dow Wilson could be seen. As the acquisition was closed today, Varian is expected to positively contribute to the Siemens Healthineers’ adjusted basic earnings per share in the first 12 months. The two companies are building a strategic partnership called the EnVision. The plan is to establish a diagnostic, digital and therapeutic ecosystem including treatment management.

Variant and Siemens will be using AI-assisted analytics to advane their data-driven precision care while redefining the cancer diagnostics, post-treatment survivorship and care delivery. The completed transaction will help Varian common stock ceased trading the New York Stock Exchange before the trade opening of today. Both the companies will also be addressing the growing needs of personalized and data-driven diagnosis and care.

Siemens Healthineers CEO Dr. Bernd Montag, said in a release, “With the completion of this transaction, we are now best-positioned to take two leaps together: a leap in cancer care and a leap in our impact on healthcare overall. Together, we are establishing a strong and trusted partner capable of supporting customers and patients along the entire cancer care continuum as well as through all major clinical pathways.”