Varian Medical Buys Bio-Imaging Research

Palo Alto-based Varian Medical Systems said Wednesday evening that it is in an agreement to acquire Bio-Imaging Research, a developer of X-ray imaging products. Varian said it will pay approximately $21M for the Lincolnshire, IL. firm. Bio-Imaging Research develops X-ray imaging products used in the security and inspections area, used for cargo screening and inspection. Bio-Imaging Research will become part of Varian's Security and Inspection Products business, and will continue to operate with its approximately 50 employees in Illinois. According to Varian, the acquisition is expected to add revenues of approximately $5M for the remainder of its fiscal 2007.