Wachtell Leads Varian In $16.4B Sale To Siemens Healthineers
Law360 (August 2, 2020, 9:08 PM EDT) — German medical technology business Siemens Healthineers AG has agreed to buy Wachtell Lipton-advised Varian Medical Systems Inc. for $16.4 billion, the companies said Sunday, in a tie-up aimed at creating the most comprehensive cancer care provider in the world.
Together, the companies will offer a platform of end-to-end oncology services, from screening and diagnosis to personalized treatment and post-treatment care, according to a statement. Palo Alto, California-based Varian will continue to operate as an independent company and will retain its brand name.
Dow Wilson, president and CEO of Varian, said in the press release that the transaction “represents an important milestone…