Siemens Healthineers Buys Novartis Cancer Scan Chemical Unit: FT

Siemens Healthineers AG has agreed to buy part of a business owned by Novartis AG for more than €200 million ($224 million), according to the Financial Times.

The German medical equipment company will buy the diagnostics unit of Advanced Accelerator Applications, which produces radioactive chemicals used in cancer scans, the newspaper reported citing unidentified sources.

Siemens Healthineers told the FT that deal would mean its radio pharmaceuticals arm, based in the US and the largest such division in the world, will expand into Europe.

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Sam Unsted in London at sunsted@bloomberg.net

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