Siemens Completes Acquisition of Varian to Create Integrated Portfolio of Imaging, Laboratory Diagnostics, AI and Cancer Treatment

The combined company is creating a unique, highly integrated portfolio of imaging, laboratory diagnostics, artificial intelligence and treatment for the global fight against cancer with significant potential for increased value creation. The acquisition aligns perfectly with the "Upgrading" phase of Siemens strategy. Varian and Siemens are building on the long-standing strategic partnership called "EnVision" to establish a comprehensive digital, diagnostic and therapeutic ecosystem that includes treatment management. With Varian, Siemens will leverage AI-assisted analytics to advance the development and delivery of data-driven precision care and redefine cancer diagnosis, care delivery and post-treatment survivorship. Through early and accurate detection as well as more efficient diagnosis, increased treatment quality and access, Siemens will support and accelerate Varian's mission to reduce uncertainty for cancer patients and increase the level of cancer survivorship.

"With Varian, Siemens Healthineers has the most comprehensive portfolio in the MedTech sector, which offers the company considerable potential for value creation. With a highly integrated approach, Siemens Healthineers will take the global fight against cancer to a new level," said Prof. Dr. Ralf P. Thomas, Chairman of the Supervisory Board of Siemens Healthineers AG.

"With the completion of this transaction, we are now best-positioned to take two leaps together: a leap in cancer care and a leap in our impact on healthcare overall. Together, we are establishing a strong and trusted partner capable of supporting customers and patients along the entire cancer care continuum as well as through all major clinical pathways," said Dr. Bernd Montag, CEO of Siemens Healthineers AG.

"Through the transformative combination of Varian and Siemens Healthineers, our united company will address the growing need for personalized, data-driven diagnosis and precision cancer care that enables us to fight back against globally increasing cancer rates," said Chris Toth, CEO of Varian, a Siemens Healthineers company. "By bringing together our unique and highly complementary portfolios and capabilities, we will support oncology clinicians and patients in achieving better outcomes and move even closer to achieving our vision of a world without fear of cancer."

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Siemens Healthineers
Varian Medical Systems, Inc.