Varian to buy Calypso Medical Technologies

Varian Medical Systems ($VAR) has signed a deal to buy Seattle's Calypso Medical Technologies, a developer and supplier of specialized products and software for real-time tumor tracking. Varian will pay approximately $10 million plus potential earnouts based on Calypso unit sales over the next 30 months.

"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," said Varian President and CEO Timothy Guertin in a statement.

The FDA has granted Calypso IDE approval for its clinical study evaluating real-time tracking of lung cancer tumors during radiation delivery. "If cleared by regulatory authorities, we are optimistic that this will globally impact the ability to target challenging lung tumors with accuracy and precision required to advance clinical outcomes," Guertin added. 

In addition, the company's Calypso system features GPS for the Body technology and Beacon electromagnetic transponders that provide a solution to improve the precision of prostate cancer treatments. 

Calypso, which was incorporated in 2000, currently generates more than $15 million in annual revenues. Its tracking system has been used to treat an estimated 10,000 prostate cancer patients.

- see the Varian release

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