U.S.-based Cancer Treatment Services International L.P. (CTSI) has agreed to be purchased by oncology treatments and software maker Varian Medical Systems for $283 million from TPG Capital.
The acquisition will boost Varian's expertise in cancer center operations, build new partnerships globally to deliver world-class, value-based care in developed and emerging markets.
CTSI, which booked $43.5 million in revenue in the fiscal year ended March 31, 2019, said that the deal extends the scope and geographic reach of its technology-enabled clinical solutions.
Subject to the satisfaction of customary closing conditions, the transaction is expected to close in about two weeks.