Acquisition of Bayer’s Diagnostic Division Finalized

Acquisition of Bayer’s Diagnostic Division Finalized

The acquisition of Bayer Healthcare’s diagnostic division by Siemens Medical Solutions has been completed. Bayer Diagnostics and Diagnostic Products Corporation (DPC), acquired in July 2006, were merged into a single business unit on January 1, 2007. The new entity, “Siemens Medical Solutions Diagnostics,” is a wholly owned subsidiary of Siemens Medical Solutions USA, Inc. and employs more than 8,000 people worldwide. Siemens Medical Solutions Diagnostics, headquartered in Tarrytown, N.Y. and Los Angeles, CA, holds a No. 2 position in the worldwide immunodiagnostics market.

This new business is integral to Siemens’ overall strategy to help its customers improve workflow throughout the healthcare enterprise. Bringing together the entire medical imaging, laboratory diagnostics and clinical IT value chain under one roof puts Siemens in a unique position to leverage trendsetting technologies for an improved quality of patient care at reduced costs. DPC and Bayer Diagnostics generated cumulative sales of €1.8 billion in fiscal 2005 (Dec. 31). The cost for both acquisitions totaled €5.7 billion.

“With the acquisitions of DPC and Bayer Diagnostics, we invested heavily in a future oriented and growing market in the health care sector. We see tremendous potential for Siemens Medical Solutions Diagnostics and have high expectations for the new unit,” said Klaus Kleinfeld, CEO of Siemens AG.

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