In August of 2020, Siemens Healthineers announced it had struck a deal to acquire Varian for $16.4 billion. While U.S. regulators approved the deal last year, the European Commission has yet to green light it; now, according to Reuters, the deal is on the verge of being approved.
At the time of the announcement, the acquisition was a major bet for a company which had just been spun off two years earlier. Now, it’s set to become one of the global leaders in the treatment of cancer, as Varian has a market share of over 50% in radiation therapy.
Siemens is said to have made some concessions to the European Commission in order to get the go-ahead, but the terms of the deal will be made clear on February 19th, when the final decision will be handed down.