Siemens Healthineers gains EU nod for $16.4 billion Varian buy

·1-min read
FILE PHOTO: Siemens Healthineers logo is seen on an item of clothing in manufacturing plant in Forchheim

BRUSSELS (Reuters) - EU antitrust regulators on Friday cleared with conditions Siemens Healthineers' $16.4 billion acquisition of U.S. peer Varian, paving the way for the German health group to become a world leader in cancer care therapy.

The European Commission said Siemens Healthineers pledged to ensure that its medical imaging and radiotherapy equipment will work with rivals in return for its approval, confirming a Reuters story. The pledge is valid for 10 years.

Watch: Siemens Energy to reduce workforce at its Olean facility by more than 500

"High quality medical imaging and radiotherapy solutions are crucial to diagnose and treat cancer. The efficiency and safety of treatment relies on the ability of these products to work together," European Competition Commissioner Margrethe Vestager said in a statement.

Varian is the leader in radiation therapy with a market share of more than 50%. The deal received the U.S. antitrust green light in October last year.

Watch: Top tips for helping the environment on a tight budget

(Reporting by Foo Yun Chee)