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NEW YORK – Siemens Healthineers on Monday said that its fiscal 2020 third quarter revenues declined 7 percent year over year, while its Diagnostics revenues retreated 17 percent, driven in part by lower demand for routine testing.

On Sunday, the firm also announced that it is buying Palo Alto, California-based Varian Medical Systems for $16.4 billion in an all-cash deal that would enable the companies to address the cancer-care continuum, including screening, diagnosis, care delivery, and post-treatment activities.

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