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Varian Medical acquires Sirtex Medical for $1.3B

Jan. 30, 2018 6:52 AM ETVarian Medical Systems, Inc. (VAR) StockVARBy: Douglas W. House, SA News Editor
  • Varian Medical Systems (NYSE:VAR) has agreed to acquire Australia-based Sirtex Medical Limited for A$28 per share in cash or a total of A$1.585B (US$1.283B).
  • Sirtex develops interventional oncology therapies. Its lead product is a targeted internal radiation treatment for certain liver cancers. The company generated A$234M in sales in the twelve-month period ended June 30, 2017.
  • Varian will fund the transaction with cash on hand. It will be accretive to earnings in the first full fiscal year after closing.
  • Varian will host a conference call this morning at 9:00 am ET to discuss the deal.

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Varian Medical Systems, Inc.