Varian Medical Systems Completes Acquisition of Bio-Imaging Research
Varian Medical Systems, Inc. announced it has completed the acquisition of Bio-Imaging Research, Inc., a supplier of X-ray imaging products for security and inspection. Varian paid approximately $21 million to acquire the privately-held business based in Lincolnshire, IL.
"This acquisition enables Varian to offer customers more complete X-ray imaging solutions for cargo screening, industrial inspection and non-destructive testing," said Tim Guertin, president and CEO of Varian Medical Systems. "With BIR's components and software for capturing, processing and analyzing X-ray images, we are offering a complete imaging solution for security and inspection as well as complete systems for non-destructive testing."
BIR, which has approximately 50 employees, will operate within Varian's Security and Inspection Products (SIP) unit and report to SIP General Manager Robert Drubka. Varian expects that BIR will add revenues of approximately $5 million for the remainder of fiscal 2007 and that it will be nearly neutral to earnings per diluted share in fiscal 2007. Results for BIR will be included with SIP results in Varian's "Other" business category.
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