Radiation therapy firm Varian Medical Systems has signed an agreement to purchase Zmed, a supplier of radiation oncology software and accessories for ultrasound-based image-guided radiotherapy, stereotactic radiation treatments, and image management. Palo Alto, CA-based Varian will pay approximately $35.5 million in cash for Zmed, subject to certain adjustments.
For Varian, the deal adds 3-D ultrasound imaging capabilities to its image-guided radiotherapy portfolio, said Varian chairman and CEO Dick Levy. Varian would also be able to offer radiation oncology departments a new line of stereotactic positioning accessories and planning software for hypofractionated radiotherapy or radiosurgery, he said.
Zmed is slated to be part of Varian’s oncology systems business segment, and its approximately 30 employees will continue to operate from the company’s headquarters near Boston under the direction of current president and CEO Marc Buntaine. The transaction is expected to close by the middle of November, and is not subject to any pre-closing regulatory filings.
By AuntMinnie.com staff writers
October 13, 2003
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