Siemens Medical Solutions has completed its acquisition of the Bayer Diagnostics and Diagnostic Products Corporation (DPC), and a new division called the “Siemens Medical Solutions Diagnostics" has been formed. The unit is headquartered in Tarrytown, N.Y., and Los Angeles, Calif., and functions as a subsidiary of Siemens Medical Solutions with 8,000 employees around the globe. According to the company, the new entity holds the No. 2 spot in the global immunodiagnostics market.
Siemens said this acquisition serves its overarching goal which is to assist customers to improve workflow throughout the healthcare enterprise. The move places Siemens in a position to bring together the entire medical imaging, laboratory diagnostics and clinical IT value chain under one roof.
"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.
DPC and Bayer Diagnostics generated cumulative sales of $2.4 billion in fiscal 2005. The cost for both acquisitions totaled $7.5 billion.
The company sees this as an opportunity to bring “together for the first time a unique set of products and services that will speed the development of molecular medicine capabilities, and improve the efficiency and quality of healthcare," said Erich Reinhardt, PhD, member of the Managing Board of Siemens AG and president and CEO of Siemens Medical Solutions.
Siemens Medical Solutions Diagnostics key focus areas include clinical chemistry, patient tests, laboratory automation and blood cell diagnostics (hematology). The company also develops solutions for molecular diagnostics and gene analysis with the aim of continuing to improve personalized medicine. The company will also offer a comprehensive portfolio for the diagnosis and treatment of illnesses such as adrenal/pituitary dysfunction, allergy, anemia, diabetes and reproductive and thyroid disorders, infectious diseases, kidney ailments, cardiology, oncology, diabetes and virology, Siemens said.
The business’ leadership includes: Anthony Bihl, previous president of the Diagnostics division of Bayer Healthcare LLC, as CEO. Sid Aroesty, who served as president and COO of DPC, serves as COO; and Jochen Schmitz, previous CFO of the Siemens Medical Solutions Molecular Imaging division, assumed the CFO spot.