Varian Medical to buy Calypso for $10M

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Varian Medical Systems has signed a definitive agreement with Calypso Medical Technologies under which Varian will acquire Calypso.

The acquisition is anticipated to close in early October, subject to satisfaction of closing conditions, and provides that Palo Alto, Calif.-based Varian will pay approximately $10 million plus potential earnouts based on unit sales of Calypso products achieved beyond thresholds over the next 30 months.

It is expected that the Seattle-based Calypso business will be integrated into Varian's Oncology Systems segment and will continue to operate in Seattle. The acquisition includes Calypso's intellectual property portfolio with some 90 current or pending patents.