Varian to Acquire InfiMed for $15M
The corporate consolidation beat marches on this week, as Varian Medical Systems scooped up digital radiography and fluoroscopy vendor InfiMed for $15 million plus “earnouts based on sales of InfiMed products achieved over the next 24 months,” according to a press release. Although the deal is not expected to be finalized until next month, it marks another verse in the familiar tune of business acquisitions of all kinds within the imaging industry, whether to private equity groups or larger vendors. The 60-person, Syracuse, NY-based InfiMed develops digital medical imaging systems for fluoroscopy, angiography, cardiology, and general radiography. Varian X-Ray Products president Robert Kluge said in an announcement that the deal will better enable Varian to become “a one-stop shop for x-ray tubes, flat panel image detectors, and workstations.” In the same release, InfiMed president Amy Ryan said that InfiMed would receive greater visibility of its technology profile through the agreement. “By joining with Varian, we will be able to offer our leading technology in digital image processing to more customers around the world,” Ryan’s statement read.