Aimed at raising its profile in interventional oncology, Varian (NYSE:VAR) has acquired Austin, TX-based Endocare and Hangzhou, China-based Alicon for a total of $185M.
Endocare’s lead product is the Cyrocare CS Systems for cryotherapy for the minimally invasive treatment of a range of cancers.
Alicon’s top product is Caligel, calibrated resorbable gelform particles used an an embolic agent in China to treat liver cancer.
The two companies generated $30M in combined revenues in calendar 2018. The transaction will not have a material effect on fiscal 2019 results but will be accretive to GAAP and non-GAAP EPS in fiscal 2020.
Management will host a conference call tomorrow, June 11, at 8:30 am ET to discuss the deal.
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