News | Radiation Therapy | January 31, 2018

Varian Signs Agreement to Acquire Sirtex

Acquisition adds Sirtex’s SIR-Spheres Y-90 resin microspheres to Varian’s interventional oncology portfolio

Varian Signs Agreement to Acquire Sirtex

January 31, 2018 — Varian Medical Systems announced it has signed an agreement to acquire all the outstanding shares of Sirtex Medical Ltd., an Australia-based global life sciences company focused on interventional oncology therapies. Sirtex is listed on the Australian Securities Exchange, for A$28 per share in cash. On a fully diluted basis, this represents a total equity purchase price for the acquisition of approximately A$1,585M (approximately US$1,283M). The acquisition has been unanimously approved by the Board of Directors of each company and the Sirtex Board of Directors has agreed to unanimously recommend that Sirtex shareholders approve the transaction, provided that an independent expert, to be retained by Sirtex, considers the transaction to be in the best interests of Sirtex shareholders and in the absence of a superior offer.

Varian said the acquisition of Sirtex, which specializes in radioembolization, expands Varian's addressable market into interventional oncology. Varian expects to leverage its capabilities in treatment planning and delivery, image guidance and processing, oncology practice management software, and radiation safety in combination with Sirtex's interventional oncology platform.

Sirtex's lead product is a targeted internal radiation therapy for certain liver cancers. Approximately 80,000 doses of SIR-Spheres Y-90 resin microspheres have been supplied to treat patients with liver cancer at more than 1,090 medical centers in over 40 countries. It has premarket approval (PMA) from the U.S. Food & Drug Administration (FDA), the European Union (CE Mark) and Australia's Therapeutic Goods Administration (TGA). Sirtex has manufacturing capabilities in the United States, Singapore and Germany.

Sirtex generated annual revenues of A$234mm in the fiscal year ended June 30, 2017. Sirtex has approximately 300 employees worldwide and maintains sales and distribution operations primarily in the United States, Europe and Asia.

For more information: www.varian.com, www.sirtex.com

 

Related Content

Stronger Distribution Networks to Bolster Radiotherapy Patient Positioning Accessories
News | Patient Positioning Radiation Therapy | July 19, 2019
A recent study projects global market revenues for radiotherapy patient positioning accessories will exceed revenues of...
CMS Proposes New Alternative Payment Model for Radiation Oncology
News | Radiation Oncology | July 17, 2019
The Centers for Medicare and Medicaid Services (CMS) issued a proposal for an advanced alternative payment model (APM)...
AAPM 2019 Features More Than 40 Presentations on ViewRay's MRIdian MRI-guided Radiotherapy
News | Image Guided Radiation Therapy (IGRT) | July 16, 2019
ViewRay Inc. announced that the company's MRIdian System is the focus of more than 40 abstracts selected by the...
RaySearch Releases Version 3A of RayCare Oncology Information System
Technology | Oncology Information Management Systems (OIMS) | July 15, 2019
RaySearch has released RayCare 3A, a new version of the next-generation oncology information system (OIS). RayCare is...
IBA Launches Monte Carlo Patient QA for Varian Halcyon at AAPM 2019
Technology | Quality Assurance (QA) | July 10, 2019
IBA announced the launch of the latest functionality of the SciMoCa Monte Carlo Patient QA solution at the 61st annual...
Researchers Use Artificial Intelligence to Deliver Personalized Radiation Therapy
News | Radiation Therapy | July 09, 2019
New Cleveland Clinic-led research shows that artificial intelligence (AI) can use medical scans and health records to...
The Beamscan 3-D water phantom with the Varian Halcyon radiotherapy system

The Beamscan 3-D water phantom with the Varian Halcyon radiotherapy system. Image courtesy of PTW.

News | Quality Assurance (QA) | July 08, 2019
At this year’s American Association of Physicists in Medicine (AAPM) show, July 14-18 in San Antonio, Texas, PTW will...