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MarketScreener Homepage  >  Equities  >  Nyse  >  Varian Medical Systems, Inc.    VAR

VARIAN MEDICAL SYSTEMS, INC.

(VAR)
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Siemens Healthineers to buy US cancer care firm Varian

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08/02/2020 | 04:42am EDT

BERLIN (AP) — Germany-based Siemens Healthineers said Sunday it will buy U.S. cancer therapy and research company Varian in a deal worth around $16.4 billion.

Siemens Healthineers, in which industrial conglomerate Siemens holds a majority stake, said it will buy all shares in Varian Medical Systems, Inc. for $177.50 per share in cash.

It said that the acquisition is expected to close in the first half of 2021, and requires the approval of regulators and Varian shareholders. Varian's board of directors unanimously approved the agreement, it added.

Palo Alto, California-based Varian had revenues in the 2019 fiscal year of $3.2 billion, Siemens Healthineers said in a statement. Varian says it employs about 10,000 people around the world.

Siemens Healthineers said it plans to finance the acquisition with a mix of debt and equity.

It plans to issue new shares this year, a move that Siemens said will reduce its stake in Erlangen-based Siemens Healthineers to about 72% from 85%.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG -0.79% 117.44 Delayed Quote.0.77%
SIEMENS HEALTHINEERS AG -0.29% 41.38 Delayed Quote.-3.36%
VARIAN MEDICAL SYSTEMS, INC. -0.10% 173.25 Delayed Quote.22.00%
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Financials (USD)
Sales 2020 3 119 M - -
Net income 2020 279 M - -
Net cash 2020 886 M - -
P/E ratio 2020 55,9x
Yield 2020 -
Capitalization 15 749 M 15 749 M -
EV / Sales 2020 4,77x
EV / Sales 2021 4,18x
Nbr of Employees 10 000
Free-Float 99,7%
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Technical analysis trends VARIAN MEDICAL SYSTEMS, IN
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Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 177,64 $
Last Close Price 173,42 $
Spread / Highest target 2,64%
Spread / Average Target 2,44%
Spread / Lowest Target 2,35%
EPS Revisions
Managers
NameTitle
Dow R. Wilson President, Chief Executive Officer & Director
Robert Andrew Eckert Chairman
Kevin O’Reilly Senior Vice President-Global Operations
Jesse Michael Bruff Chief Financial Officer
Deepak Khuntia Chief Medical Officer & Senior Vice President
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