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Varian
Medical Systems Signs Agreement to Acquire Bio-Imaging
Research;
Acquisition to Strengthen Varian's Security and Inspection Product
Offerings
PALO ALTO,
Calif., April 25 /PRNewswire-FirstCall/ -- Varian Medical
Systems, Inc. (NYSE: VAR) today announced it has signed an
agreement to acquire
Bio-Imaging Research, Inc. (BIR), a privately-held supplier of
X-ray imaging
products for security and inspection. The acquisition will enable
Varian to
offer security and inspections customers X-ray imaging detectors
and image
processing software in addition to its existing line of specialized
linear
accelerators for cargo screening, inspection and non-destructive
testing (NDT).
Varian expects to pay approximately $21 million to acquire BIR,
which is based
in Lincolnshire, IL.
"The BIR
technology will enable Varian to offer customers more complete
X-
ray imaging solutions for cargo screening, industrial inspection
and non-
destructive testing," said Timothy E. Guertin, president and CEO of
Varian
Medical Systems. "This expands our offering from components to a
complete
mega-voltage X-ray imaging chain for cargo screening as well as
complete systems
for non-destructive testing."
"This
enhances our growth opportunity in the important security and
NDT
markets by expanding our product offerings for customers who
manufacture systems
for cargo screening. It also gives us the ability to design and
offer complete
systems for NDT," Guertin added. "BIR has a strong management and
product
development team that has established a reputation for imaging
excellence and
innovation in the markets it has served for more than 25
years."
BIR, which
has approximately 50 employees, will continue to operate in its
current facility in Lincolnshire, IL. It will operate under
Varian's Security
and Inspection Products (SIP) business unit and report to SIP
General Manager
Robert Drubka under Varian Vice President Lester Boeh.
Varian
anticipates the acq
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