Varian Medical Systems Inc. said Monday it inked a deal to buy privately held medical imaging workstation manufacturer InfiMed Inc. for about $15 million in a move to become a "one-stop shop" for customers' X-ray imaging needs.
Under the deal, expected to close in early April, Palo Alto, Calif.-based Varian would also pay earnouts based on InfiMed product sales over the next two years. InfiMed has about $15 million in annual revenues, Varian said in a release.
Once the acquisition wraps up, InfiMed would operate under Varian's X-ray Products division. Varian, which also makes radiation therapy equipment, said the deal is expected to be neutral to earnings per share in fiscal 2012.
Robert Kluge, president of the X-ray Products group, said the acquisition lets the company become a "one-stop shop" for X-ray customers looking for X-ray tubes, flat panel detectors and now workstations.
"This could provide our customers with easier, more seamless integration of Varian components into their systems and help users achieve improved performance in their imaging systems," he said in a statement. "We also hope to enable equipment developers to reduce time to market and access niche markets that might otherwise be out of reach."
InfiMed, founded in 1983 and based in Liverpool, N.Y., develops workstation hardware and software and licenses its technology to OEMs, and also sells through dealers, according to information on its website. Its products include PlatinumOne, i5 DR, iCynergy: RF&R and i5 Nexus-DRF.