- 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.