M&As this week: Varian Medical Systems, Guangdong Hybribio Biotech, Paragon Care

2 February 2018 (Last Updated February 2nd, 2018 14:50)

Varian Medical Systems Inc has signed an agreement to acquire the entire outstanding shares of Sirtex Medical Ltd for A$1.585bn ($1.285bn).

Varian Medical Systems Inc has signed an agreement to acquire the entire outstanding shares of Sirtex Medical Ltd for A$1.585bn ($1.285bn).

Varian is a US-based manufacturer of cancer-treating medical devices and software, while Sirtex is an Australian life sciences company that develops interventional oncology therapies.

The acquisition will strengthen Varian Medical’s cancer care portfolio.

Chinese in-vitro diagnostic products manufacturer Guangdong Hybribio Biotech Co Ltd plans to acquire 21.87% stake in a life technology company located in Wuhan for CNY14m ($2.21m).

“The acquisition will strengthen Varian Medical’s cancer care portfolio.”

Paragon Care Ltd plans to acquire Anaequip Medical Pty Ltd for A$2.3m ($1.8m).

Paragon Care will pay A$1.84m ($1.48m) in cash and the remaining A$0.46m ($0.37m) through shares.

Based in Australia, Paragon is a medical equipment sourcing company, while Anaequip Medical, also based in Australia, is a medical equipment distributor.