Siemens Completes Acquisition of Varian

Siemens Healthineers announced it has successfully completed its acquisition of Varian Medical Systems, Inc., creating a highly integrated portfolio of imaging, laboratory diagnostics, artificial intelligence and treatment along the entire cancer care continuum with significant potential for increased value creation. Varian becomes a new business segment within Siemens Healthineers and the acquisition aligns with the company’s “Upgrading” strategy will take Siemens Healthineers to the next level of profitable growth.

With the closing of the acquisition, Varian is expected to positively contribute to Siemens Healthineers adjusted basic earnings per share within the first 12 months. Additionally, Siemens Healthineers aims for EBIT synergies of at least EUR 300 million per annum in fiscal year 2025.

“With Varian, Siemens Healthineers has the most comprehensive portfolio in the MedTech sector, which offers the company considerable potential for value creation. With a highly integrated approach, Siemens Healthineers will take the global fight against cancer to a new level,” said Prof. Dr. Ralf P. Thomas, Chairman of the Supervisory Board of Siemens Healthineers AG.

“With the completion of this transaction, we are now best-positioned to take two leaps together: a leap in cancer care and a leap in our impact on healthcare overall. Together, we are establishing a strong and trusted partner capable of supporting customers and patients along the entire cancer care continuum as well as through all major clinical pathways,” said Dr. Bernd Montag, CEO of Siemens Healthineers AG.

“Through the transformative combination of Varian and Siemens Healthineers, our united company will address the growing need for personalized, data-driven diagnosis and precision cancer care that enables us to fight back against globally increasing cancer rates,” said Chris Toth, CEO of Varian, a Siemens Healthineers company. “By bringing together our unique and highly complementary portfolios and capabilities, we will support oncology clinicians and patients in achieving better outcomes and move even closer to achieving our vision of a world without fear of cancer.”

Varian and Siemens Healthineers are building on the long-standing strategic partnership called “EnVision” to establish a comprehensive digital, diagnostic and therapeutic ecosystem that includes treatment management. With Varian, Siemens Healthineers will leverage AI-assisted analytics to advance the development and delivery of data-driven precision care and redefine cancer diagnosis, care delivery and post-treatment survivorship. Through early and accurate detection as well as more efficient diagnosis, increased treatment quality and access, Siemens Healthineers will support and accelerate Varian’s mission to reduce uncertainty for cancer patients and increase the level of cancer survivorship.