January 29, 2007 - Varian Medical Systems, Inc. announced today that it has successfully completed the $30 million acquisition of ACCEL Instruments GmbH, a privately-held supplier of scientific research instruments and proton therapy systems for cancer treatment.
In the deal, Varian paid approximately $30 million to acquire 100 percent of ACCEL, including its bank debt. ACCEL has approximately $30 million in annual revenues.
"We are pleased to add this promising new business to our growth portfolio," said Tim Guertin, president and CEO of Varian Medical Systems. "With ACCEL Instruments, we have the opportunity to build a several hundred million dollar business based on improving cancer care with a clinically practical and affordable system for proton therapy."