Press release

CFIUS concludes review of planned merger with Varian and clears transaction

Siemens Healthineers AG (Frankfurt: SHL) announces that the Committee on Foreign Investment in the United States (“CFIUS”) concluded its review under Section 721 of the Defense Production Act of 1950, as amended, of the planned merger with Varian Medical Systems, Inc. (“Varian”, NYSE: VAR) and determined that there were no unresolved national security issues with respect to the transaction. Both companies announced the transaction on August 2, 2020.

“We have reached another important milestone on the road to combine our two companies and are very well on track,” said Bernd Montag, CEO of Siemens Healthineers AG.

The closing of the transaction remains subject to receipt of regulatory approvals in other countries and satisfaction of certain other customary closing conditions. Siemens Healthineers still expects to close the merger with Varian in the first half of calendar year 2021.

Varian is a world leader in the field of cancer care, with innovative solutions especially in radiation oncology and related software. With a holistic approach to cancer care, the company is increasingly leveraging technologies such as artificial intelligence, machine learning and data analysis to further improve cancer treatment and expand access to care.

Siemens Healthineers 2020

Siemens Healthineers AG (listed in Frankfurt, Germany: SHL) is shaping the future of Healthcare. As a leading medical technology company headquartered in Erlangen, Germany, Siemens Healthineers enables healthcare providers worldwide through its regional companies to increase value by empowering them on their journey towards expanding precision medicine, transforming care delivery, improving the patient experience, and digitalising healthcare. Siemens Healthineers is continuously developing its product and service portfolio, with AI-supported applications and digital offerings that play an increasingly important role in the next generation of medical technology. These new applications will enhance the company’s foundation in in-vitro diagnostics, image-guided therapy, and in-vivo diagnostics. Siemens Healthineers also provides a range of services and solutions to enhance healthcare providers’ ability to provide high-quality, efficient care to patients. In fiscal 2020, which ended on September 30, 2020, Siemens Healthineers, which has approximately 54,000 employees worldwide, generated revenue of €14.5 billion and adjusted EBIT of €2.2 billion.