Varian Medical Systems (NYSE: VAR) will acquireBoston Scientific’s (NYSE: BSX) portfolio of drug-loadable microsphere and bland embolic bead products.
Terms of the transaction were not disclosed.
Boston Scientific’s portfolio of products treat arteriovenous malformations, which is a tangle of abnormal and poorly formed blood vessels and hypervascular tumors. Varian will not acquire any of the Boston Scientific operations, but plans to manufacture and distribute the products.
"This acquisition from Boston Scientific will strengthen Varian's growing position in the high-value interventional oncology segment and is consistent with our long-term strategy to become a global leader in multidisciplinary, integrated cancer solutions," said Dow Wilson, CEO of Varian.
Varian shares were trading down 0.30% at $139.20 Tuesday afternoon.
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