Siemens Healthineers to buy Varian for $16.4 billion

Siemens Healthineers has entered into the biggest deal in Siemens history with an agreement to acquire the U.S. healthcare company Varian for $16.4 billion. The investment is part of a plan by the medical technology division of Siemens to become the world's largest company in cancer detection and treatment. It's taking over a California-based company that considers itself to be the number one player in radiation therapy, with 57 percent market share. Siemens Healthineers saw huge opportunities for growth in the market for cancer screening and treatment which is worth billions. Varian had sales of $3.2 billion in 2019. It has 10,000 employees and treats around four million patients annually. Siemens Healthineers is offering $177.50 per share in the company, a premium of 24 percent.