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Varian Medical Systems Signs Agreement to Acquire Calypso Medical Technologies; Acquisition Adds Products for Tracking Tumor Motion During Radiosurgery and Radiotherapy
Date:9/19/2011

PALO ALTO, Calif., and SEATTLE, Sept. 19, 2011 /PRNewswire/ -- Varian Medical Systems, Inc., (NYSE: VAR) and Calypso Medical Technologies, Inc., today announced they have signed a definitive agreement under which Varian will acquire Calypso, a privately-owned, Seattle-based developer and supplier of specialized products and software for real-time tumor tracking and motion management during radiosurgery and radiotherapy.  The acquisition, which is anticipated to close in early October subject to the satisfaction of certain closing conditions, provides that Varian will pay approximately $10 million for Calypso plus potential earnouts based on unit sales of Calypso products achieved beyond thresholds over the next 30 months.

"With Calypso's technology, Varian will be able to offer cancer treatment centers real-time, non-ionizing tumor tracking tools for enhancing the precision of their treatments," said Timothy E. Guertin, president and CEO of Varian Medical Systems.   "These products are a perfect complement for Varian's motion management technology, including our TrueBeam™ platform, respiratory gating and dynamic imaging tools for highly focused radiosurgery.  These products should enhance Varian's growth as we integrate them and make them more broadly available to the clinical community through our global marketing and sales channels."

The Calypso® System features GPS for the Body® technology and Beacon® electromagnetic transponders that together currently provide a solution to continuously and accurately track target location to improve precision of prostate cancer treatments.  The transponders are implanted into the prostate or prostatic bed and then tracked with the 4D localization and tracking system so that beams can be precisely delivered to targeted tumors during radiotherapy and radiosurgery with medical linear acc
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SOURCE Varian Medical Systems
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