Palo Alto, Calif.-based Varian Medical Systems has inked a deal to acquire the medical imaging business of PerkinElmer, Inc. as an addition to the Varian imaging components business, which is slated to become an independent public company, Varex Imaging Corp., through a previously announced separation expected for completion in January.
The acquisition is expected to close after the planned separation of Varex from Varian and following receipt of required regulatory approvals. Varex will pay $276 million to acquire PerkinElmer’s medical imaging business, which is a supplier of digital flat-panel x-ray detectors. This business, which is headquartered in Santa Clara, Calif., also has operations in Germany, the Netherlands, and the United Kingdom.
“This is a natural fit for our Varex business with complementary digital imaging products that will serve to accelerate our profitable growth with more than $140 million in new revenue,” says Sunny Sanyal, the current president of Varian’s imaging components business who is expected to become CEO of Varex. “This acquisition would add new digital imaging technology to our portfolio that would enable us to offer customers a broader range of imaging solutions and provide us with additional cross-selling opportunities.”
The Varian imaging components business (Varex) is a manufacturer of x-ray imaging components, including tubes and digital flat-panel detectors and other image processing systems for medical and industrial applications. The global business generated about $600 million in revenues in fiscal-year 2016.
Robert Friel, chairman and CEO of PerkinElmer, says: “Combining our medical imaging business with Varex’s capabilities will better position the business to support its customers and continue to innovate and develop new imaging systems.”
For more information regarding this development, visit Varian Medical Systems.
