CCI approves acquisition of Varian Medical Systems by Siemens Healthineers

The Competition Commission of India CCI on Wednesday said it has given nod to acquisition of 100 per cent shares and sole control of Varian Medical Systems by Siemens Healthineers. Commission approves acquisition of 100 shares sole control of Varian Medical Systems by Siemens Healthineers, the regulator said in a tweet.

The Competition Commission of India (CCI) on Wednesday said it has given nod to acquisition of 100 per cent shares and sole control of Varian Medical Systems by Siemens Healthineers. As per a combination notice filed with the regulator, the transaction relates to the acquisition of 100 per cent shares of common stock and sole control of Varian by Siemens Healthineers Holding I GmbH, which is a wholly-owned subsidiary of Siemens Healthineers AG. The proposed transaction will bring together Siemens Healthineers' imaging equipment and Varian's oncology treatment solutions, allowing for a more innovative, efficient and comprehensive oncology solutions provider, the notice said. It will benefit cancer patients with improved treatments with the goal of ultimately turning cancer into a manageable disease, which is the driving rationale for the proposed transaction, it added. ''Commission approves acquisition of 100% shares & sole control of Varian Medical Systems by Siemens Healthineers,'' the regulator said in a tweet. Besides, CCI approved subscription to securities of Ecom Express Pvt Ltd by CDC Group. CDC is a development finance institution, wholly-owned by the UK government, while Ecom Express is engaged in providing third-party logistics services in India, as per a combination notice.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)