M&A Deal Summary

Siemens Healthineers AG Acquires Varian Medical Systems

On August 2, 2020, Siemens Healthineers AG acquired medical products company Varian Medical Systems, Inc. for 16.4B USD

Acquisition Highlights
  • This is Siemens Healthineers AG’s 1st transaction in the Medical Products sector.
  • This is Siemens Healthineers AG’s 1st largest (disclosed) transaction.
  • This is Siemens Healthineers AG’s 2nd transaction in the United States.
  • This is Siemens Healthineers AG’s 1st transaction in California.

M&A Deal Summary

Date 2020-08-02
Target Varian Medical Systems, Inc.
Sector Medical Products
Buyer(s) Siemens Healthineers AG
Deal Type Add-on Acquisition
Deal Value 16.4B USD


Varian Medical Systems, Inc.

Palo Alto, California, United States
Varian's corporate headquarters in Palo Alto, California.
Varian's corporate headquarters in Palo Alto, California.
Varian Medical Systems is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems was formed in 1948 and is based in Palo Alto, California.

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Buyer(S) 1


Siemens Healthineers AG

Erlangen, Germany


Category Company
SectorLife Science
Revenue 14.5B EUR (2020)

Siemens Healthineers is a healthcare provider in precision medicine, redesigning healthcare, improving the patient experience, and digitizing healthcare. Siemens Healthineers is based in Erlangen, Germany.

Overall 2 of 2
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
2019-09-30 ECG Management Consultants, Inc.

Seattle, Washington, United States

ECG Management Consultants, Inc. is a strategic consulting firm that is major healthcare forward, using knowledge and expertise built over the course of four decades to help clients see clearly where healthcare is going and to navigate toward success. ECG Management Consultants was founded in 1973 and is based in Seattle, Washington.

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