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China Grand Pharmaceutical and Healthcare Holdings Limited and CDH Genetech, Ltd. received CFIUS clearance for their joint acquisition of Sirtex Medical Limited, an Australian medical device company, for approximately A$1.9 billion (US$1.4 billion).
Australian medical device firm Sirtex Medical agreed to a binding scheme implementation deed for A$1.9bn ($1.43bn) acquisition proposal from CDH Genetech and China Grand Pharmaceutical and Healthcare (CGP). The deal is at A$33.6 per share, higher than a previous offer from Varian.
Varian Medical Systems agreed to acquire Sirtex Medical for $1.3 billion, gaining control of Sirtex's radioembolization technology for cancer treatment.