Siemens Publicly Lists Healthcare Business
By Labmedica International staff writers
14 Nov 2016
Siemens AG (Munich, Germany), Europe’s largest industrial conglomerate, has announced that its USD 15 billion healthcare division, which operates under the uniform brand name Siemens Healthineers (Erlangen, Germany), will be publicly listed as an independent medical technology business.
In May 2014, Siemens had announced its intention to set up its healthcare business as a "company within the company" so that the business could adjust to transformations in the healthcare market in a flexible and focused manner with its own market presence. Siemens Healthineers focuses on the therapeutic and molecular diagnostic market, and offers medical imaging, laboratory diagnostics, and management, consulting and digital services. It is currently working with Pfizer to develop in vitro diagnostic tests for improving patient selection, treatment monitoring and dosing in clinical trials, as well as with ViiV Healthcare for developing diagnostics for its first-in-class HIV drug Celsentri (maraviroc).
Siemens has not yet provided any details about the planned scope and timing regarding the initial public offering of its healthcare business, but expects the move to encourage investors and provide a foundation for any future acquisitions or investments. "Healthcare technology is a highly attractive business in which we want to further expand our leading position. With this step, we continue to implement Vision 2020 launched in May 2014. The public listing will give Healthineers even more focus and flexibility in pursuing its growth strategy," said Joe Kaeser, President and CEO of Siemens AG. "The public listing is now the next step in further strengthening Siemens Healthineers in Siemens for the future. We're implementing this from an already leading position. Siemens Healthineers has already increased its market share and has an outstanding portfolio of top technologies that we're further developing," added Kaeser.
"The public listing is a key lever for reaching our strategic goal of being THE enabler for healthcare providers worldwide," said Bernd Montag, CEO of Siemens Healthineers. "Greater entrepreneurial freedom and agility will allow us to help shape the development of the global healthcare market and the growth strategies of successful healthcare providers. We'll enable our customers to participate successfully in the trends toward consolidation, industrialization and holistic health management with a high degree of clinical relevance, efficient workflows and financial value added."