Sirtex Medical, declined the offer of $1.3bn takeover by Varian, in favor of a higher value proposition by CDH Investments and China Grand Pharmaceutical and Healthcare Holdings. Sirtex Medical is a medical company which researches, develops and commercializes medical products for the treatment of liver cancer. The Company is based in Western Australia and markets its products throughout the world. "While disappointed with this decision, Varian's long-term strategy has not changed. We remain focused on becoming a global leader in multi-disciplinary, integrated cancer care solutions; expanding the addressable markets that Varian can impact; and growing and creating sustainable value for our company and our shareholders." Dow Wilson, Varian President, and CEO.