New Delhi: The Competition Commission of India (CCI) approves acquisition by Siemens Healthineers Holding I Gmb (SHS GmbH) of Varian Medical Systems, Inc. (Varian) under Section 31(1) of the Competition Act, 2002, today.
The proposed combination relates to the acquisition of 100% of shares of common stock and sole control of Varian, by SHS GmbH, which is a wholly owned subsidiary of Siemens Healthineers AG (Siemens Healthineers) which is ultimately part of the Siemens AG Group.
Siemens Healthineers is a global provider of healthcare solutions and services, active in over 70 countries worldwide. Globally, its business is divided into three business segments, namely: (i) imaging products, services and solutions, (ii) laboratory diagnostic equipment, and (iii) advanced therapies.
Varian is a global provider of medical devices and software solutions for treating cancer with radiation therapy and other advanced treatments. Globally, Varian primarily operates in three main business segments, namely: (i) oncology systems, (ii) proton solutions, and (iii) interventional solutions.
Detailed order of the CCI will follow.