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Varian Medical Systems Announces Intention to Acquire MeVis Medical Solutions AG through a Public Tender Offer

Press releases may be edited for formatting or style | December 17, 2014

Following the acquisition, the MeVis team would continue to develop cancer screening and image processing applications at its current facility in Bremen, where it would operate as a center of excellence within Varian's Imaging Components business, which is headquartered in Salt Lake City, Utah. "This is a talented group of people who would make a valuable addition to the Varian team," Sanyal said.

Varian's offer reflects an approximately 16 percent premium over MeVis' average share price over the past six months. The offer will be contingent on a minimum acceptance rate of 75 percent of the MeVis shares outstanding.[1] A number of major shareholders have committed to accepting the offer, representing over 70 percent of the MeVis shares outstanding.[1]

Varian plans to file its tender document according to German law in mid-January 2015, and formally launch the tender offer after approval of the tender document by the German Financial Supervisory Authority. The acquisition is expected to be completed in April, 2015.

While the financial impact of the transaction is not expected to be material to Varian's revenues and earnings in fiscal year 2015, Varian will provide financial details upon closing of the transaction.

[1] Registered share capital excluding treasury shares.

[2] National Lung Screening Trial Research Team. Reduced Lung-Cancer Mortality with Low-Dose Computed Tomographic Screening. NEJM. Online June 29, 2011. In print, August 4, 2011.

[3] American Cancer Society. Cancer Facts and Figures 2014. Atlanta: American Cancer Society; 2014.

[4] Ma J, Ward EM, Smith R, Jemal A. Annual number of lung cancer deaths potentially avertable by screening in the United States. Cancer. 2013 Apr 1;119(7):1381-1385. http://www.ncbi.nlm.nih.gov/pubmed/23440730

About Varian Medical Systems
Varian Medical Systems, Inc., of Palo Alto, California, is a world leading manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a premier supplier of X-ray tubes, digital detectors, and image processing workstations for X-ray imaging in medical, scientific, and industrial applications and also supplies high-energy X-ray devices for cargo screening and non-destructive testing applications. Varian Medical Systems employs approximately 6,800 people who are located at manufacturing sites in North America, Europe, and China and approximately 75 sales and support offices around the world. For more information, visit www.varian.com or follow us on Twitter.

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