Radiation therapy firm Varian Medical Systems said it has entered into a definitive agreement to acquire Cancer Treatment Services International (CTSI) for $283 million.
CTSI provides clinical and administrative services for the treatment of cancer. The company also owns several radiation oncology centers in Florida and California, as well as an integrated cancer treatment center in Hyderabad, India.
The acquisition of CTSI will enable Varian to expand the scope of its clinical services for cancer treatment and better support oncology centers around the world, Varian said. In addition, the transaction will accelerate the identification of unmet clinical and operational needs at these centers to further advance cancer management technologies and services.
Varian expects the transaction to close in approximately two weeks. The company also plans to adjust its annual guidance for the full fiscal year 2019 based on an estimated increase in revenues following the acquisition.
