News | Radiation Therapy | May 21, 2019

India-based CTSI operates American Oncology Institute and 10 multidisciplinary cancer centers across Indian subcontinent, plus U.S.-based Oncology Solutions division

Varian Acquiring Cancer Treatment Services International

May 21, 2019 — Varian Medical Systems announced it has entered into a definitive agreement to acquire India’s Cancer Treatment Services International (CTSI) for $283 million. Privately held, CTSI operates the American Oncology Institute in Hyderabad and 10 multidisciplinary — radiation, medical and surgical oncology — cancer centers across the Indian subcontinent, as well as a U.S.-based Oncology Solutions division that provides cancer care professional services to healthcare providers worldwide.

This transaction will accelerate identification of unmet clinical and operational needs to facilitate advances in technology and services, according to Varian. As a result, the combined companies will be positioned to create new multidisciplinary solutions based on robust clinical information benefiting oncologists, and ultimately resulting in better care for patients. These fast-growing offerings will allow Varian to expand its solutions, while helping to support the continued growth trajectory of the company's oncology systems business.

This transaction will increase Varian's expertise in cancer center operations, allowing for new partnerships globally to deliver value-based care in developed and emerging markets. In addition, the transaction expands the scope and geographic reach of CTSI's technology-enabled clinical solutions.

"Effectively addressing the growing global cancer burden requires not just new technology and research, but also new ways of collaborating and partnering," said Stanley M. Marks, M.D., co-founder of CTSI and chairman of UPMC Hillman Cancer Center.  "This acquisition should now expand the development and implementation of new solutions for cancer care around the world."

Varian will finance the acquisition with a combination of borrowings under its credit facility and cash on hand. The transaction is anticipated to close in approximately two weeks, subject to the satisfaction of customary closing conditions.

For more information: www.varian.com

Related Content

News | Proton Therapy

August 5, 2022 — IBA (Ion Beam Applications S.A., EURONEXT), a world leader in particle accelerator technology, Fred ...

Time August 05, 2022
arrow
News | Radiology Business

August 4, 2022 — The Biden Administration, through the U.S. Department of Health and Human Services and the Centers for ...

Time August 04, 2022
arrow
News | Pediatric Imaging

August 3, 2022 — The Jack Martin Fund (JMF) has built on its partnership with the Mount Sinai Health System to provide ...

Time August 03, 2022
arrow
Feature | Oncology Information Management Systems (OIMS)

August 2, 2022 — The oncology information systems market is projected to be worth $2.59 Bn by 2022 and is expected to ...

Time August 02, 2022
arrow
Feature | Lung Imaging

August 1, 2022 — In recognition of World Lung Cancer Day, the American Lung Association announced new patient resources ...

Time August 01, 2022
arrow
News | Nuclear Imaging

July 27, 2022 — Patients for Safer Nuclear Medicine, a coalition of 29 patient advocacy organizations representing ...

Time July 27, 2022
arrow
News | Oncology Information Management Systems (OIMS)

July 26, 2022 — The oncology information system market is expected to expand at a 7.8% CAGR. The oncology information ...

Time July 26, 2022
arrow
News | Radiation Oncology

July 25, 2022 — RaySearch Laboratories AB announces the launch of RayStation* 12A, the latest version of the company’s ...

Time July 25, 2022
arrow
News | ECR

July 25, 2022 — Dunlee unveiled its new oncology bundles for the first time this year, launched at the 2022 European ...

Time July 25, 2022
arrow
Feature | Radiology Business

View the July/August digital edition of Imaging Technology News (ITN), including links to videos, comparison charts and ...

Time July 21, 2022
arrow
Subscribe Now