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Varian Medical Systems Signs Agreement

Asset Purchase Agreement

Varian Medical Systems Signs Agreement | Document Parties: Bio-Imaging Research, Inc | Varian Medical Systems You are currently viewing:
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Bio-Imaging Research, Inc | Varian Medical Systems

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Title: Varian Medical Systems Signs Agreement
Date: 4/25/2007
Industry: Medical Equipment and Supplies     Sector: Healthcare

Varian Medical Systems Signs Agreement, Parties: bio-imaging research  inc , varian medical systems
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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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