Varian Medical to acquire Calypso Medical Technologies

21 September 2011 (Last Updated September 21st, 2011 18:30)

Varian Medical Systems has signed a definitive agreement to acquire Calypso Medical Technologies, a privately owned developer and supplier of products and software for real-time tumour tracking and motion management during radiosurgery and radiotherapy.

Varian Medical Systems has signed a definitive agreement to acquire Calypso Medical Technologies, a privately owned developer and supplier of products and software for real-time tumour tracking and motion management during radiosurgery and radiotherapy.

Varian will pay $10m for Calypso plus potential earn-outs based on unit sales of Calypso products achieved beyond set thresholds over the next 30 months.

Varian Medical Systems president and CEO Timothy Guertin said that, with Calypso's technology, Varian will be able to offer real-time, non-ionising tumour tracking tools to cancer treatment centres to enhance the precision of treatment.

The Calypso system features GPS for the Body technology and Beacon electromagnetic transponders.

Following the acquisition, the Calypso business will be integrated into Varian's Oncology Systems segment. It will continue to operate form its current location in Seattle, US.

The acquisition includes Calypso's intellectual property portfolio, which contains around 90 current or pending patents.

The deal is expected to close by early October.