Varian Medical Systems: Varex To Acquire PerkinElmer's Medical Imaging Business

(RTTNews) - Varian Medical Systems (VAR) announced an agreement to acquire the Medical Imaging business of PerkinElmer, Inc. (PKI) as an addition to the Varian Imaging Components business, which is slated to become an independent public company, Varex Imaging Corp. Varex will pay $276 million to acquire PerkinElmer's Medical Imaging business.

The acquisition is expected to be immediately accretive to Varex following the closing. Varex plans to finance the acquisition through an expansion of its bank credit facilities to approximately $600 million. The transaction is expected to close in the first half of 2017.

Robert Friel, CEO, PerkinElmer, said: "The divestiture will allow PerkinElmer to focus our investments and accelerate growth in higher priority areas."