Palo Alto-based Varian Medical Systems Inc. signed an agreement to acquire ACCEL Instruments GmbH, a privately held supplier of proton therapy systems for cancer treatment and scientific research instruments. The acquisition will enable Varian to offer products for delivering image-guided, intensity modulated proton therapy for selected cancer patients. Varian will invest approximately $30 million to acquire 100 percent of Accel, including its debt.

“With this acquisition, we can meet the needs of customers who have begun to ask us for proton therapy capabilities that supplement their existing radiotherapy systems,” said Tim Guertin, president and CEO of Varian Medical Systems. “This leverages our existing technology in treatment planning, image guidance and cancer informatics and it enables Varian to offer all the products needed for delivering proton therapy. We expect that we can build a several hundred million dollar proton therapy business over time.”

Accel has commissioned its newly developed superconducting medical cyclotron for proton therapy at the Paul Scherrer Institute outside Zurich. Work is nearing completion on another installation at the Rinecker Proton Therapy Center in Munich and Varian hopes to complete commissioning that system this year.

In addition to producing particle therapy products, Accel produces specialty linear accelerators and other physics instruments for research and science applications. Accel, which is based in Bergisch Gladbach near Cologne, Germany, has about 250 employees.

Varian anticipates the acquisition will add annualized revenues of approximately $30 million in fiscal year 2007. The transaction is conditioned upon receipt of certain regulatory approvals, and is expected to close in late January.

Posted on January 22, 2007 02:45 PM