Teledyne Technologies will purchase Varex Imaging for about $1.1 billion, inclusive of equity awards and debt, the companies announced Monday. The deal calls for Teledyne to acquire all outstanding shares of Varex at $18.90 per share in cash, subject to regulatory approvals and expected to close early next year. Robert Mehrabian, Teledyne’s CEO, highlighted the complementary nature of the two firms, noting that while Teledyne produces X‑ray detectors, Varex specializes in high‑radiation imaging for oncology, serving similar customers with related technologies. Sunny Sanyal, Varex’s CEO, said joining Teledyne opens a new chapter, accelerating adoption of advanced imaging solutions and enabling development of next‑generation products. Both boards unanimously approved the transaction, expanding Teledyne’s position in the healthcare market.

The acquisition underscores Teledyne’s strategic push into medical imaging and provides Varex with a larger platform for growth. Industry analysts view the move as a strong consolidation in the X‑ray component sector, combining complementary product lines and customer bases.

With the deal pending regulatory clearance, the companies expect the integration to enhance product innovation and market reach, reinforcing Teledyne’s portfolio in advanced imaging technologies.