Siemens Seals Bayer Diagnostics Acquisition

Siemens Medical Solutions completed the EUR 5.7 billion acquisition of Bayer Healthcare's diagnostic division, which was acquired in July 2006 and merged into a single business unit with Siemens Medical Solutions on January 1, 2007, as part of Siemen’s strategy to help its customers improve workflow throughout the healthcare enterprise.
Bayer Diagnostics and Diagnostic Products Corporation (DPC) and Siemens Medical Solutions have formed a new entity – Siemens Medical Solutions Diagnostics – a wholly owned subsidiary of Siemens Medical Solutions USA, Inc., which employs more than 8,000 people worldwide. The deal places Siemens Medical Solutions Diagnostics in second in the international immunodiagnostics market.
This new business brings together the entire medical imaging, laboratory diagnostics and clinical IT value chain under one roof, positioning Siemens to leverage trendsetting technologies for patient care at reduced costs. DPC and Bayer Diagnostics generated cumulative sales of EUR 1.8 billion in fiscal 2005 (Dec. 31).