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 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. Siemens Healthineers plans to acquire all of Varian's outstanding shares for $177.50 in cash. 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. Let's reshape it today, Hunt for the brightest engineers in India. Revenue in the third quarter was 3.31 billion euros while earnings before interest and taxes reached 461 million euros, the company said Sunday. Transformational milestone in execution of Siemens’ Vision 2020+ strategy. 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. The purchase will bring together two partners that have collaborated for more than a decade in areas such as radiotherapy diagnostics for cancer treatments. 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. 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. Under the terms of the agreement, Siemens Healthineers will acquire all of the shares of Varian for US$177.50 per share in cash. The all-cash transaction is set to close in the first half of 2021. 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. 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. 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. As a result, Siemen’s stake in Healthineers will decline to about 72% from 85%, Siemens said in a statement. US$16.4 billion. 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. This corresponds to a purchase price of Varian of approx. As part of the arrangement, Siemens Healthineers will acquire all of Varian’s outstanding shares for $177.50 each. The merger would give Erlangen, Germany -based Siemens Healthineers a broader reach into cancer care. According to the agreed transaction, Siemens will receive all Varian shares for $177.50 each in cash. This corresponds to a purchase price of approximately USD 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 … In fiscal year 2019, Varian’s revenues had amounted to US$3.2 billion with an adjusted operating margin of approximately 17%. 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. Choose your reason below and click on the Report button. Siemens Healthineers AG has also … 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 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. Have a confidential tip for our reporters? 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 … 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. “It won’t be a short-term topic, but one we can look at next year,” Schmitz said. 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. … In fiscal year 2019, Varian’s revenues had amounted to US$3.2 billion with an adjusted operating margin of approximately 17%. 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. Before it's here, it's on the Bloomberg Terminal. The bid will be financed through both debt and equity, Siemens Healthineers said in a statement on Sunday. US$16.4 billion. Siemens Healthineers intends to acquire 100 percent stake in U.S. healthcare company at a purchase price of around $16.4 billion. 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. 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. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. The Index has seen more turmoil than usual recently, with the exit of Lufthansa AG after 32 years, and Commerzbank AG. This corresponds to a purchase price of Varian of approx. 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 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 … Bloomberg was first to report the offer on Saturday. 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