EBIT synergies are expected to amount to €300 mln per annum in fiscal year 2025 and to increase sharply in subsequent years. Combination creates a global leader in healthcare with a comprehensive portfolio to fight cancer. Indeed, providing healthcare to the growing ageing population is currently among the key concerns for governments as life expectancy has significantly increased reaching an average of 74.7 years. Founded in 2017 and based in Erlangen, Siemens Healthineers AG is a German multinational company operating in the medical equipment and devices industry. The $16.4 billion purchase of Varian Medical Systems not only gives Siemens Healthineers AG an entry into cancer treatment -- one of the hottest areas in medical technology -- … $16.4 billion. Please use the contact details below: Email: COMP-MERGER-REGISTRY@ec.europa.eu. Kevin Than Siemens Remote Services Product Manager at Siemens Healthineers San Jose, CA. 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. By combining its own technologies and resources with Varian’s, Siemens Healthineers will attempt to provide a complete range of cancer treatment options — from screening and diagnosis to care delivery and post-treatment survivorship. Moreover, the acquisition aims at accelerating the enrichment of digital offerings and exploiting larger sales, R&D and production, thus possibly making cancer care more accessible and affordable. Varian shareholders to receive USD 177.50 per share in cash, representing a purchase price of approximately USD 16.4 billion. Varian has entered into a definitive agreement to combine with Siemens Healthineers. Siemens Healthineers still expects to close the merger with Varian in the first half of calendar year 2021. This process began with the sale of its EMR business to Cerner for $1.3B back in 2015, with notably reduced marketing … References: SEC’s website, Financial Times, Bloomberg, Siemens Healthineers, Varian, Yahoo Finance, Deloitte, McKinsey. The adjusted EBIT of €2,230 decreased by 10%; the year-over-year decline is mainly ascribable to the performance of the Diagnostics segments and the negative spillovers of the COVID-19 pandemic. MUNICH/BERLIN (Reuters) - German health group Siemens Healthineers said on Sunday it was buying Varian Medical Systems Inc of the United States for $16.4 billion in … Forecasts suggest that global healthcare spending is expected to increase at a CAGR of 5% from 2019-2023. It operates in more than 70 countries worldwide and comprises 54,300 employees. 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. Indeed, technology and digital transformation are key growth drivers as they represent the foundation for new care delivery models, driving cheaper, more precise and less invasive treatments and therapies. Varian (NYSE: VAR) today announced that its stockholders have voted to approve the previously announced pending combination with Siemens Healthineers AG (Frankfurt: SHL) at a special meeting. Siemens Healthineers expands into cancer care with $16.4 billion deal for Varian By Jörn Poltz and Douglas Busvine . The content in this material was created just prior to the outbreak of the COVID-19 pandemic. Varian announced that it has entered into a definitive agreement to combine with Siemens Healthineers AG in an all-cash transaction valued at $16.4 billion on a fully diluted basis. Observations can be sent to the Commission by email, by fax, or by post. For Siemens Healthineers, the Varian software asset is a great fit. COVID-19. During the 2020 fiscal year, Siemens Healthineers AG produced total revenues of €14,460 million. This was mainly due to the decline in hardware product revenues from Oncology Systems due to customer capital constraints and site access challenges, resulting from Covid-19. Siemens Healthineers’ proposed purchase of Varian Medical Systems is at a hefty 28% premium to 2021 consensus EV/Ebitda estimates. Varian to Combine with Siemens Healthineers in $16.4 Billion All-Cash Transaction, Varian Stockholders Approve Combination with Siemens Healthineers. PALO ALTO, Calif., Oct. 15, 2020 /PRNewswire/ -- Varian (NYSE: VAR) today announced that its stockholders have voted to approve the previously announced pending combination with Siemens Healthineers AG (Frankfurt: SHL) at a special meeting. This sampling method can be less cumbersome and time consuming for both the provider and the patient. Together with Christian Hofmann, physicist at Siemens Healthineers, they have developed an innovative solution for handling respiratory motion in radiotherapy planning – always with the focus on achieving better outcomes for cancer patients. Varian (NYSE: VAR) today announced that it has entered into a definitive agreement to combine with Siemens Healthineers AG (Frankfurt: SHL) in … The current share price is moving around the level announced in the acquisition agreement on August 2nd, 2020 ($175), which implies a market cap of approximately $16bn. … Siemens Healthineers intends to acquire 100 percent stake in U.S. healthcare company at a purchase price of around $16.4 billion. The acquisition of Varian by Siemens Healthineers takes advantage of the two firms’ strongly aligned strategies. 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. Business-wise, cancer care is a clear growth market with a solid 6% to 10% CAGR as the global cancer burden is … Net income was 10% lower than the previous fiscal year amounting to €1,423 million. Under the terms of the agreement, which has been unanimously approved by Varian's Board of Directors, Siemens Healthineers will acquire all … The deal will create a global leader in healthcare with a comprehensive portfolio to fight cancer – from imaging for treatment planning to focused radiation therapy. Dive Brief: Siemens Healthineers will buy radiation oncology systems and software maker Varian Medical in an all-cash deal valued at $16.4 billion, the companies announced Sunday, confirming a Bloomberg report Saturday. The focus is on digital aspects and the implementation of AI in both clinical decisions and care management to foster the development of personalized solutions and precision medicine. The acquisition of Varian allows for the creation of deeply integrated and comprehensive products and services in cancer care. Varian and Siemens Healthineers will lead the digital transformation of oncology healthcare, enabling more efficient diagnosis, increased treatment quality and access, personalised precision cancer care, and improved outcomes for millions of patients worldwide, the company said. Two in three cancer patients will receive radiation therapy (RT) at some point during their treatment. In a recent interview with the online newsletter Examining Healthcare, Siemens Healthineers AG CEO Bernd Montag stresses the importance of the process of digitization in the healthcare industry, which provides insight as to the company’s future direction. Varian is the market leader in the field of cancer care, including radiation oncology, the use of artificial intelligence, machine learning and data analysis. Customer Success Lead - Director of VIP accounts for Siemens Healthineers. 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. Source: Siemens Healthineers & Varian Presentation. 1 Direct i4D is optionally available on SOMATOM go.Open Pro and requires the online mode with Anzai and Varian RGSC. Varian is a world leader in the field of cancer care, with innovative solutions especially in radiation oncology and related software. Siemens has for some time been gradually changing direction in its digital strategy, away from large enterprise data management segments towards more targeted diagnostic and operational products. The … The healthcare sector is among the world’s largest and fastest-growing industries and has been one the most resilient to the current pandemic. From this perspective, the acquisition of Varian Medical Systems acquisition will result in a global healthcare leader with the most comprehensive cancer treatment portfolio in the industry. The board of directors of Varian has already approved the transaction unanimously. For Siemens Healthineers, the Varian software asset is a great fit. Therefore, the depictions may not reflect the situation following the implementation of strict protective measures. Acquisition to create global leader in cancer research and therapeutics and support Siemens Healthineers’ equity story. As part of the EnVision partnership, Siemens and Varian have jointly developed ARIA ® connectivity for Siemens linacs. CEO Bernd Montag reflects on a year of shadow and light 2021-01-07. This corresponds to a purchase price of approximately $16.4 billion. MUNICH/BERLIN (Reuters) - German health group Siemens Healthineers said on Sunday it was buying Varian Medical Systems Inc of the United States for $16.4 billion in … The desired impact on the industry should be originated by a strong cultural fit between Varian and Siemens Healthineers, in terms of innovation and purpose-driven culture. Enter your email address to subscribe to BSMAC and be up to date on our analyses. Siemens has for some time been gradually changing direction in its digital strategy, away from large enterprise data management segments towards more targeted diagnostic and operational products. Since 2012, they have been working together successfully in their strategic “EnVision” partnership to shape the future of cancer treatment, combining Varian’s innovative therapeutic systems and Siemens Healthineers leading imaging technology. Post was not sent - check your email addresses! It is focused on delivering proton therapy, another form of external beam radiotherapy which might be preferred for treating certain cancers, particularly tumors near critical structures. 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. On August 2nd, 2020, Siemens Healthineers agreed to buy Varian Medical Systems in a deal that values the US maker of devices and software for cancer treatments at $16.4bn in the biggest medical acquisition of the year. Varian’s Board of Directors unanimously approved the agreement and recommends that the Varian shareholders also … 1 Direct i4D is optionally available on SOMATOM go.Open Pro and requires the online mode with Anzai and Varian RGSC. 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