PALO ALTO, Calif., Oct. 15, 2020 /PRNewswire/ -- Varian (NYSE:
VAR) today announced that its stockholders have voted to approve
the previously announced pending combination with Siemens
Healthineers AG (Frankfurt: SHL) at a special meeting. Varian
stockholders voted overwhelmingly in favor of the transaction.
"The overwhelming support our stockholders have expressed for
this combination reflects the compelling value and important
opportunity to shape the future of healthcare we see with Siemens
Healthineers," said Dow Wilson, Chief Executive Officer. "This vote
brings us closer not only toward completing this transformative
combination, but also toward realizing our vision of a world
without fear of cancer. We look forward to securing the remaining
regulatory approvals and closing the transaction."
Varian continues to work toward completing the transaction and
remains focused on supporting customers and their patients. The
transaction is expected to close in the first half of calendar year
2021, subject to other regulatory approvals and customary closing
conditions.
The final vote results will be filed in a Form 8-K with the U.S.
Securities and Exchange Commission.
About Varian
At Varian, we envision a world without
fear of cancer. For more than 70 years, we have developed, built
and delivered innovative cancer care technologies and solutions for
our clinical partners around the globe to help them treat millions
of patients each year. With an Intelligent Cancer Care approach, we
are harnessing advanced technologies like artificial intelligence,
machine learning and data analytics to enhance cancer treatment and
expand access to care. Our 10,000 employees across 70 locations
keep the patient and our clinical partners at the center of our
thinking as we power new victories in cancer care. Because, for
cancer patients everywhere, their fight is our fight. For more
information, visit http://www.varian.com and follow @VarianMedSys
on Twitter.
Forward-Looking Statements
Except for historical
information, this communication contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements concerning Varian's future orders and the
anticipated impact of the COVID-19 pandemic on Varian's business;
and any statements using the terms "could," "believe," "expect,"
"promising," "outlook," "should," "well-positioned," "will" or
similar statements are forward-looking statements that involve
risks and uncertainties that could cause Varian's actual results to
differ materially from those anticipated. Such risks and
uncertainties include: (1) the future impact of the COVID-19
pandemic on Varian's business, including but not limited to, the
impact on its workforce, operations, supply chain, demand for
products and services, and Varian's financial results and
condition; (2) Varian's ability to successfully manage the
challenges associated with the COVID-19 pandemic; (3) Varian's
ability to achieve expected synergies from acquisitions; (4) risks
associated with integrating recent acquisitions; (5) global
economic conditions and changes to trends for cancer treatment
regionally; (6) currency exchange rates and tax rates; (7) the
impact of the Tax Cuts and Jobs Act; (8) the impact of the
Affordable Health Care for America Act (including excise taxes on
medical devices) and any further healthcare reforms (including
changes to Medicare and Medicaid), and/or changes in third-party
reimbursement levels; (9) recent and potential future tariffs or a
global trade war; (10) demand for and delays in delivery of
Varian's products; (11) Varian's ability to develop, commercialize
and deploy new products; (12) Varian's ability to meet Food and
Drug Administration (FDA) and other regulatory requirements,
regulations or procedures; (13) changes in regulatory environments;
(14) risks associated with Varian providing financing for the
construction and start-up operations of particle therapy centers,
challenges associated with commercializing Varian's Proton
Solutions business; (15) challenges to public tender awards and the
loss of such awards or other orders; (16) the effect of adverse
publicity; (17) Varian's reliance on sole or limited-source
suppliers; (18) Varian's ability to maintain or increase margins;
(19) the impact of competitive products and pricing; (20) the
potential loss of key distributors or key personnel; (21)
challenges related to entering into new business lines; (22) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the agreement; (23) the failure to
obtain certain required regulatory approvals or the failure to
satisfy any of the other closing conditions to the completion of
the transaction; (24) risks related to disruption of management's
attention from Varian's ongoing business operations due to the
transaction; (25) the effect of the announcement of the transaction
on the ability of Varian to retain and hire key personnel and
maintain relationships with its customers, suppliers and others
with whom it does business, or on its operating results and
business generally; (26) the ability to meet expectations regarding
the timing and completion of the transaction; (27) risks associated
with transaction-related litigation; and (28) the other risks
listed from time to time in Varian's filings with the SEC.
For additional information concerning factors that could cause
actual results and events to differ materially from those projected
herein, please refer to Varian's Annual Report on Form 10-K for the
year ended September 27, 2019 and
subsequent Current Reports on Form 8-K and Quarterly Reports on
Form 10-Q filed with the SEC. Varian assumes no obligation to
update or revise the forward-looking statements in this
communication because of new information, future events, or
otherwise.
Varian Contacts
Investor Relations Contact
Anshul Maheshwari
Vice President, Treasury and Investor Relations
+1 (650) 424-5631
investors@varian.com
Press Contact
Eric Brielmann / Kaitlin Kikalo / Sophie
Throsby
Joele Frank, Wilkinson Brimmer
Katcher
+ 1 (415) 869-3950 / +1 (212) 355-4449
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SOURCE Varian