Siemens Consolidates Healthcare Business

by CXOtoday Staff    Dec 01, 2009

Siemens Ltd announced the merger of Siemens Healthcare Diagnostics Ltd (SHDL) with the company. The appointed date of the proposed merger would be 1 October, 2009.

Independent valuers Deloitte Touche Tohmatsu India Private Limited and ICICI Securities Limited jointly determined the share exchange ratio.

Commenting on the merger, Dr Armin Bruck, managing director, Siemens Ltd, said, With this merger, we will be able to strengthen our healthcare portfolio and make Siemens one of the leading integrated healthcare companies to provide in-vitro and in-vivo diagnostic solutions in the Indian market. The complimentary portfolios of the two companies will raise synergies in leveraging a combined customer base and thus expanding the installed base in India.

Siemens Healthcare focuses on immunodiagnostics and the clinical chemistry business, with a significant presence in critical care, hematology, microbiology and plasma protein. Siemens AG s wholly-owned subsidiary, Siemens Diagnostic Holding II B.V., Netherlands holds 68.73 per cent equity stake in SHDL.

The proposed merger of SHDL with Siemens Ltd is subject to requisite approvals.