By Joshua Stein

The European Commission said Friday that it has cleared Siemens Healthineers AG's acquisition of U.S.-based Varian Medical Systems Inc., but that the company must comply with conditions.

Siemens Healthineers agreed to continue adhering to industrywide standards to ensure interoperability between its medical-imaging technology and peers' radiotherapy solutions, and between its radiotherapy solutions and imaging solutions of peers. It said it would also provide relevant information and technical assistance to third parties and customers.

The commission had concerns that the deal could lead to the foreclosure of rivals in the European Economic Area and the U.K. but said Siemens Healthineers' subsequent commitments, which will run for 10 years and has an extension option of five years, fully address the competition concerns.

Siemens Healthineers said Friday that the transaction was still subject to regulatory approval in other countries. It expects to close the acquisition, worth $16.4 billion, in the first half of 2021.

Write to Joshua Stein at joshua.stein@wsj.com

(END) Dow Jones Newswires

February 19, 2021 10:38 ET (15:38 GMT)

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