Varian Medical Systems→Siemens Healthineers
Acquisition · Cash + Stock · announced Aug 2, 2020
Announced
Aug 2, 2020
Closed
Apr 15, 2021
Economics
Cash + Stock()
Pre-deal · pre-deal mark: 2020, year precision · rounding grid ±$100M · Siemens Healthineers press release — Varian acquisition (NYSE:VAR market cap)
$177.50/share, ~$16.4B all-cash
Target
Varian Medical Systems
Precision Medicine · Clinical / therapeutic
HQ Palo Alto, CA · Founded 1948
Radiation oncology and cancer treatment systems — linear accelerators, brachytherapy, and treatment planning software for breast, cervical, and other cancers
- Siemens Healthineers press release (Aug 2, 2020)
- PR Newswire — Varian merger announcement (Aug 2, 2020)
- SEC EDGAR — Varian DFAN14A (Aug 2020)
Acquirer
Siemens Healthineers
Healthcare
HQ Erlangen, Germany
Global medical technology company — imaging, diagnostics, and advanced therapies; radiation oncology via Varian acquisition
Why this buyer
Curated copy from the verified dataset — not an 8-K LLM summary
Creates global leader in cancer treatment — Varian's linear accelerators and brachytherapy systems treat breast, cervical, and ovarian cancers; estimated €300M+ annual synergies by FY2025
Evidence ladder
Secondary (press / IR)
Siemens Healthineers press release (Aug 2, 2020)
Secondary (press / IR)
PR Newswire — Varian merger announcement
Limitations
- Citations are press/IR only — two wires of the same announcement are not dual-source. Add a primary filing.
- $177.50/share, ~$16.4B all-cash
- Pre-deal valuation sourced from: Siemens Healthineers press release — Varian acquisition (NYSE:VAR market cap). Pre-deal market-cap and funding citations do not corroborate the acquisition.
Valuation peers · Precision Medicine
Same sector, same deal type, announced within ±3 years, disclosed value within 0.25×–4× of this transaction. Ranked by evidence class, then same acquirer.
Same-sector adjacency — not valuation peers
These deals share the sector tag and window but sit outside the 0.25×–4× value band. The dataset keeps them for clinical adjacency, not as price comps.
| Target | Acquirer | Announced | Value | Vs this deal |
|---|---|---|---|---|
| Genomic Health | Exact Sciences | Jul 29, 2019 | ||
| Foundation Medicine | Roche | Jun 19, 2018 | ||
| Flatiron Health | Roche | Jan 8, 2018 |
Patient empowerment context
Empowerment context — Varian Medical Systems
Curated survey mappingHLTH/Outcomes4Me 2022 surveyed breast cancer patients (n=1,828). Breast cancer care continuum (HLTH 2022). Rows below are analyst-curated mappings to cited survey items — not live patient outcomes for this target.
- Presented with clinical trial as treatment option (Press release)1 in 5cited HLTH 2022Mapping source →
- No survivorship care plan after active treatment (Press release)54%cited HLTH 2022Mapping source →
Other curated mappings on these gaps: Biotheranostics, Genomic Health, Foundation Medicine, Flatiron Health
Full cited gap matrix →Related verified workspaces
Lacuna is a curated public-source sample, not a census of women's-health M&A. Coverage varies by sector, geography, disclosure availability, and women's-health scope. Undisclosed transaction values are excluded from disclosed-value totals.
Curated verified dataset v9 · updated 2026-09-20 · 2 citations on this deal · Data compiled from public sources for educational visualization. Verify independently before any commercial use.