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Varian to Acquire Cancer Treatment Services International for USD 283m
Friday 24 May 2019

24 May 2019 - California, US-based Varian Medical Systems (NYSE: VAR) has agreed to acquire India-based Cancer Treatment Services International (CTSI) for USD 283m, the company said.
Varian will finance the acquisition with a combination of borrowings under its credit facility and cash on hand. The transaction is anticipated to close in approximately two weeks, subject to the satisfaction of customary closing conditions.
This transaction will accelerate identification of unmet clinical and operational needs to facilitate advances in technology and services.
As a result, the combined companies will be positioned to create new multidisciplinary solutions based on robust clinical information benefiting oncologists, and ultimately resulting in better care for patients.
These fast-growing offerings will allow Varian to expand its solutions, while helping to support the continued growth trajectory of the company's oncology systems business.
Varian is in developing and delivering cancer care solutions and is focused on creating a world without fear of cancer. Varian employs approximately 7,000 people around the world. 
CTSI operates the American Oncology Institute in Hyderabad and 10 multidisciplinary, radiation, medical and surgical oncology, cancer centers across the Indian subcontinent as well as a US-based Oncology Solutions division that provides cancer care professional services to healthcare providers worldwide.
Date Published: 24/05/2019
Target: Cancer Treatment Services International (CTSI)
Country: India
Deal Size: 283m (USD)
Sector: Healthcare
Type: LBO
Financing: Cash
Status: Agreed
Buyer: Varian Medical Systems
Terms of the deal were not disclosed