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2. Still in the hunt for M&A
Travel restrictions and precautions clearly may slow down business development professionals, but medtech executives insist they’re still in the market for M&A opportunities and investments.
Medical device companies aren’t shying away from big deals, either. Siemens Healthineers (ETR: SHL) reported early this month that it will acquire Varian Medical Systems (NYSE:VAR) in a $16.4 billion deal to create what the companies say will be the most comprehensive cancer care portfolio in the industry.
Said Siemens Healthineers CEO Bernhard Montag:
“With our support, Varian will make a leap to the next level in cancer care. With the integration of our imaging capabilities, Varian will be able to offer the broadest product portfolio in cancer diagnosis and therapy. Varian can tap into our vast data pool of curated images in our AI knowledge pool to leverage these new and even more impactful digital and artificial intelligence offerings, and hence, will more quickly broaden the spectrum of more individualized and more precise therapy. As part of Siemens Healthineers, Varian will gain access to our significantly larger sales and service organizations as well as our advanced R&D and production networks. For us, the planned integration of Varian means achieving immediately a materially higher level of relevance and impact with our customers.”
