The bid will be financed through both debt and equity, Siemens Healthineers said in a statement on Sunday. Siemens Healthineers AG has also … Chief Executive Officer Bernd Montag said at the end of 2019 that the company’s next acquisition would be “close to home.” “We’re not going to start doing, like, pacemakers, because it does not fit into our portfolio,” Montag said in an interview at the time. Siemens Healthineers agreed to buy Varian Medical Systems for about $16.4 billion in cash in the biggest medical acquisition of the year. The merger would give Erlangen, Germany -based Siemens Healthineers a broader reach into cancer care. As part of the arrangement, Siemens Healthineers will acquire all of Varian’s outstanding shares for $177.50 each. The all-cash transaction is set to close in the first half of 2021. The company also expects full-year earnings per share of between 1.54 euro and 1.62 euro, compared with 1.57 euro last year. Siemens Healthineers AG has also … The planned dilution of Siemens’s holding could pave the way for Healthineers to enter into Germany’s benchmark DAX Index. Varian says it employs about 10,000 people around the world. Want the lowdown on European markets? US$16.4 billion. The deal would give Healthineers a sizable market share in the rapidly growing field of cancer treatment where it has little presence currently. Under the terms of the agreement, Siemens Healthineers will acquire all of the shares of Varian for US$177.50 per share in cash. August 3, 2020 — Siemens AG is continuing to rigorously execute its Vision 2020+ strategy and therefore expressly welcomes Siemens Healthineers AG’s acquisition of a 100 percent stake in Varian Medical Systems, Inc., a U.S. company active in the area of cancer research and therapy.Payment of the purchase price of around $16.4 billion is to be enabled by mixed … In fiscal year 2019, Varian’s revenues had amounted to US$3.2 billion with an adjusted operating margin of approximately 17%. US$16.4 billion. Siemens Healthineers is acquiring Varian for $16.4 billion in perhaps one of the largest medtech deals in the pandemic era to date. Siemens Healthineers AG and Varian Medical Systems, Inc. have announced that they have entered into an agreement, pursuant to which Siemens Healthineers shall acquire all shares of Varian for USD 177.50 per share in cash.This corresponds to a purchase price of approximately USD 16.4 billion. Under the terms of the agreement, which has been unanimously approved by Varian’s Board of Directors, Siemens Healthineers will acquire all outstanding shares of Varian for $177.50 per share in cash, representing a premium of approximately 42% to the 30-day volume weighted average closing price of Varian’s common stock as of July 31, 2020, the last trading day prior … Siemens Healthineers intends to acquire 100 percent stake in U.S. healthcare company at a purchase price of around $16.4 billion. Siemens Healthineers agreed to buy Varian Medical Systems for about $16.4 billion in cash in the biggest medical acquisition of the year. In 7 Years at Today's Vaccine Rates, Brace Yourself: Long-Haul Travel May Not Get Going Until 2023, South Korea Leads World in Innovation as U.S. Exits Top Ten, Virgil Capital Founder Admits $100 Million Crypto Fund Fraud, Fuel-Cell Truck Startup Hyzon Agrees to Merge With Decarbonization Plus SPAC. This corresponds to a purchase price of approximately USD 16.4 billion. Your Reason has been Reported to the admin. Page 1/4 . Siemens AG welcomes acquisition of Varian by Siemens Healthineers Transformational milestone in execution of Siemens' Vision 2020+ strategy; Siemens Healthineers intends to acquire 100 percent stake in U.S. healthcare company at a purchase price of around $16.4 billion German health group Siemens Healthineers said it would acquire Varian Medical Systems in a deal that values the US maker of devices and software for cancer treatments at $16.4bn. According to the agreed transaction, Siemens will receive all Varian shares for $177.50 each in cash. If Siemens can leverage its far larger operational and sales network and apply it to Varian’s product segments, none of Varian’s current main competitors will have the resources to compete, unless acquired by another major healthcare technology vendor. German health group Siemens Healthineers said on Sunday it was buying Varian Medical Systems Inc of the United States for $16.4 billion in a deal that seeks to create the global leader in cancer care solutions. Siemens spun off (of corporate action where a company “splits off” a section as a separate business) Siemens Healthineers in 2018 but retains an 85% stake in the business. Industrial conglomerate Siemens, which spun off Healthineers in 2018 but retains a controlling stake, will provide bridge financing for the deal, which seeks to create a global … BERLIN - German health group Siemens Healthineers said on Sunday it would acquire Varian Medical Systems Inc in a deal that values the U.S. maker of devices and software for cancer treatments at $16.4 billion. German health group Siemens Healthineers said on Sunday it would acquire Varian Medical Systems Inc in a deal that values the U.S. maker of devices … The company’s shares are little changed this year, compared with a 3.4% advance in the S&P health index, leaving Varian with a market value of about $13 billion. This corresponds to a purchase price of Varian of approx. Under the agreed transaction, Siemens Healthineers will acquire all shares in Varian for $177.50 each in cash, representing a 24% premium to the U.S. company’s closing price on Friday. For reprint rights: Inciting hatred against a certain community, The Night of Ideas: 24 Hours Live to Feel "Closer", The Economic Times Digital Payments Forum, India’s largest education fest for digital disruptors, Siemens Healthineers, Nasscom partner to support innovation in healthcare startups, India to be export hub for Siemens Healthineers. August 3, 2020 — Siemens AG is continuing to rigorously execute its Vision 2020+ strategy and therefore expressly welcomes Siemens Healthineers AG’s acquisition of a 100 percent stake in Varian Medical Systems, Inc., a U.S. company active in the area of cancer research and therapy.Payment of the purchase price of around $16.4 billion is to be enabled by mixed … Siemens Healthineers plans to acquire all of Varian's outstanding shares for $177.50 in cash. Palo Alto, California-based Varian had revenues in the 2019 fiscal year of $3.2 billion, Siemens Healthineers said in a statement. On August 2nd, Siemens Healthineers announced a definitive agreement to acquire all shares of Varian Medical Systems for $177.5 per share, which corresponds to a purchase price of approximately $16.4bn in cash. Healthineers will look at possible inclusion next year, Chief Financial Officer Jochen Schmitz said in an interview. This will alert our moderators to take action. Siemens Healthineers, a medical technology spinoff of the German conglomerate, said it would acquire U.S.-based Varian Medical for $16.4 billion, creating a … The German medical technology company offered $177.5 a share for the Palo Alto, California-based business, 24% more than its closing price on Friday. German health group Siemens Healthineers said on Sunday it would acquire Varian Medical Systems Inc in a deal that values the U.S. maker of devices and software for treating cancer at $16.4 billion. Today, Siemens Healthineers AG (Frankfurt: SHL) and Varian Medical Systems, Inc. (NYSE: VAR) announced that they have entered into an agreement, pursuant to which Siemens Healthineers shall acquire all shares of Varian for USD 177.50 per share in cash. Siemens Healthineers said the purchase will a have a positive effect on earnings per share withing the first 12 months of the closing. Before it's here, it's on the Bloomberg Terminal. Siemens Healthineers AG and Varian Medical Systems Inc. have entered into an agreement, pursuant to which Siemens Healthineers shall acquire all shares of Varian for $177.50 per share in cash. In your inbox before the open, every day. Sign up here. Deal activity in the medical devices industry is also on the rise, with Thermo Fisher Scientific Inc.’s proposed acquisition of Qiagen NV for more than $10 billion and Smiths Group Plc mulling the sale of its medical equipment unit. The purchase will bring together two partners that have collaborated for more than a decade in areas such as radiotherapy diagnostics for cancer treatments. Germany-based medical device company Siemens Healthineers has signed an agreement to acquire US-based radiation oncology treatment solutions provider Varian Medical Systems in a $16.4bn deal. Healthineers will finance the acquisition through a 15.2 billion-euro ($17.9 billion) bridge loan from Siemens AG, followed by a capital increase this year that the parent company will not participate in. Siemens AG is continuing to rigorously execute its Vision 2020+ strategy and therefore expressly welcomes Siemens Healthineers AG’s acquisition of a 100 percent stake in Varian Medical Systems, a U.S. company active in the area of cancer research and therapy. Siemens Healthineers and Varian announced a deal whereby Siemens Healthineers will acquire the world-leading radiation oncology company for $16.4B in cash. The deal is the first major growth move by Healthineers since it was spun off and floated in 2018 by Siemens, which is undertaking a broader shakeup of its conglomerate … “It won’t be a short-term topic, but one we can look at next year,” Schmitz said. Varian recently traded at 38 times estimated earnings, compared with a multiple of 18 for the S&P 500 Health Care index. Transformational milestone in execution of Siemens’ Vision 2020+ strategy. Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. Mirae Asset Emerging Bluechip Fund Direct-Growth, Siemens Healthineers to acquire Varian Medical Systems Inc for $16.4 billion. Tomorrow is different. Under the agreed transaction, Siemens Healthineers will acquire all shares in Varian for $177.50 each in cash, representing a 24% premium to the U.S. company’s closing price on Friday. Siemens Healthineers AG (Frankfurt: SHL) and Varian Medical Systems, Inc. (NYSE: VAR) announced that they have entered into an agreement, pursuant to which Siemens Healthineers shall acquire all shares of Varian for USD 177.50 per share in cash. Under the agreed transaction, Siemens Healthineers will acquire all shares in Varian for $177.50 each in cash, representing a 24% premium to … US$16.4 billion. Download The Economic Times News App to get Daily Market Updates & Live Business News. That's a premium of 24% over Varian's closing price Friday, and a 42% premium over the 30-day weighted volume average closing price. Siemens AG welcomes acquisition of Varian by Siemens Healthineers. In fiscal year 2019, Varian’s revenues had amounted to US$3.2 billion with an adjusted operating margin of approximately 17%. Siemens Healthineers AG (FRA: SHL)'s $25 billion acquisition of Varian Medical Systems, Inc. (NYSE: VAR) marks the biggest deal yet in 2020. Under the agreed transaction, Siemens Healthineers will acquire all shares in Varian for $177.50 each in cash, representing a 24% premium to the U.S. company's closing price on Friday. Choose your reason below and click on the Report button. The German health imaging and medical devices giant, Siemens Healthineers, is to buy cancer device and software specialist Varian Medical Systems for $16.4 billion (£12.5bn). As a result, Siemen’s stake in Healthineers will decline to about 72% from 85%, Siemens said in a statement. As part of the arrangement, Siemens Healthineers will acquire all of Varian’s outstanding shares for $177.50 each. Press Munich, August 2, 2020 Siemens AG welcomes acquisition of Varian by Siemens Healthineers • Transformational milestone in execution of Siemens’ Vision 2020+ strategy • Siemens Healthineers intends to acquire 100 percent stake in U.S. healthcare company at a purchase price of around $16.4 billion In a separate statement, Siemens Healthineers said it expects the Varian acquisition to contribute to its adjusted basic earnings per share within 12 … German healthcare group Siemens Healthineers has offered concessions in a bid to secure EU antitrust approval for its $16.4 billion acquisition of U.S. peer Varian Medical Systems. Under the agreed transaction, Siemens Healthineers will acquire all shares in Varian for $177.50 each in cash, representing a 24% premium to the U.S. … This corresponds to a purchase price of approximately $16.4 billion. The acquisition now places Siemens, a partner with Varian since 2012, as a world leader in cancer therapy, especially in radiotherapy and proton therapy, a market expected to enjoy continued growth given the need to deploy more cancer equipment to … MUNICH/BERLIN (Reuters) - German health group Siemens Healthineers SHLG.DE said on Sunday it was buying Varian Medical Systems Inc VAR.N of … Siemens Healthineers AG (Frankfurt: SHL) and Varian Medical Systems, Inc. (NYSE: VAR) announced that they have entered into an agreement, pursuant to which Siemens Healthineers shall acquire all shares of Varian for USD 177.50 per share in cash. This corresponds to a purchase price of Varian of approx. Healthineers, which spun off from Siemens in 2018, has advanced 2.7% this year, boosting its market capitalization to 43.6 billion euros. The acquisition comes amid early signs of a pickup in deals after the spread of the coronavirus and a worsening economic outlook damped sentiment this year. When Will Life Return to Normal? Under the agreed transaction, Healthineers will acquire all shares in Varian for $177.50 each in cash, representing a 24% premium to the U.S. company's closing price on … The Index has seen more turmoil than usual recently, with the exit of Lufthansa AG after 32 years, and Commerzbank AG. Revenue in the third quarter was 3.31 billion euros while earnings before interest and taxes reached 461 million euros, the company said Sunday. Bloomberg was first to report the offer on Saturday. Under the terms of the agreement, which has been unanimously approved by Varian's Board of Directors, Siemens Healthineers will acquire all outstanding shares of Varian for $177.50 per share in cash, representing a premium of approximately 42% to the 30-day volume weighted average closing price of Varian's common stock as of July 31, 2020, the last trading day prior … Varian Medical manufactures medical devices related to radiation oncology, including embolisation particles. Let's reshape it today, Hunt for the brightest engineers in India. Siemens Healthineers and Varian announced a deal whereby Siemens Healthineers will acquire the world-leading radiation oncology company for $16.4B in cash. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. This corresponds to a purchase price of approximately USD 16.4 billion. On 2 August, Siemens Healthineers announced that it will acquire Varian Medical for $16.4B, with the deal expected to close in 2021. Under the terms of the agreement, Siemens Healthineers will acquire all of the shares of Varian for US$177.50 per share in cash. Under the terms of the agreement, Siemens Healthineers will acquire all of the shares of Varian for US$177.50 per share in cash. This corresponds to a purchase price of approximately USD 16.4 billion. Siemens Healthineers offers 24% premium in $16.4 billion deal, Purchase would boost Healthineers presence in cancer treatment, Siemens Healthineers to Buy Varian in $16.4 Billion Deal. Have a confidential tip for our reporters? This corresponds to a purchase price of Varian of approx. Varian (VAR) Agrees to Be Acquired by Siemens Healthineers for $177.50/Share, or $16.4B Microsoft (MSFT) Files to Offer 1.27M Shares of Common Stock for Shareholders In fiscal year 2019, Varian’s revenues had amounted to US$3.2 billion with an adjusted operating margin of approximately 17%. 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