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Against the backdrop of a medtech M&A cycle that has produced multiple billion-dollar transactions in 2026, Teledyne Technologies has agreed to buy Varex Imaging for approximately $1.1 billion.
The deal adds a specialized X-ray imaging components maker to a conglomerate already deriving 52% of its revenue from a digital imaging unit serving medical, industrial, and government customers.
What Varex brings to Teledyne Varex designs, manufactures, and sells X-ray imaging components for medical and industrial use.
Over the first nine months of its fiscal year, the company reported net medical revenues of $435 million, a decline of 1% against the prior-year period.
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