Varian Medical Systems plans to spin off imaging components business

Tuesday, May 24, 2016

Varian Medical Says Expects To Incur An $35 Mln In Charges For Transaction Advisory Services, Assuming Spin.

Off anticipated to be completed by end of calendar year 2016. Imaging components business will become a new independent publicly traded company.

New imaging components company is expected to have annual revenues of about $575 million. Says new company's management team will include sunny sanyal as new chief executive officer

Company does not expect spin-off to impact company's non-gaap financial guidance for fiscal year 2016

Deal intended to take form of a tax-free distribution to varian stockholders of shares of new company's common stock

Off is completed by end of calender year. Says new company's management team will include clarence verhoef as chief financial officer. Varian medical systems announces plan to spin off imaging components business.

 

Source : in.reuters.com

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