Radiation therapy firm Varian Medical Systems and Mitsubishi Electric have signed a letter of intent to form a joint venture to provide radiotherapy equipment and service in Japan and other Asian countries.
The joint venture is expected to begin in January and will be headquartered in Japan. It will sell the Palo Alto, CA-based vendor’s full line of radiotherapy products and Mitsubishi’s medical linear accelerators. It will also service and support these products, including Mitsubishi industrial linear accelerators.
Mitsubishi medical linear accelerators will be sold through the venture during the first two years. Mitsubishi’s radiotherapy service business will be transferred to the joint venture, Varian said. The transaction is expected to conclude in December.
By AuntMinnie.com staff writersOctober 10, 2003
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