ERLANGEN, GERMANY and LOS ANGELES -- Siemens has completed its acquisition of Diagnostic Products Corporation (DPC), marking a significant milestone for Siemens as it enters the in-vitro diagnostics (IVD) market. Together with DPC, Siemens Medical Solutions will become the first full service diagnostics company.

Earlier today, DPC shareholders approved the merger of DPC and a wholly owned subsidiary of Siemens Medical Solutions, Inc. In the merger, which is now complete, each share of DPC common stock was converted into the right to receive a cash payment of $58.50 per share.

Founded in 1971, DPC is a global leader in immunodiagnostics, focusing on developing, manufacturing, and distributing automated body fluid analyzers and tests, such as those related to cancer and cardiac disease, as well as hormone and allergy conditions.


This acquisition is just the first step for Siemens - on June 29, 2006, Siemens announced its intent to acquire Bayer Healthcare's Diagnostics Division (subject to regulatory approvals).

"Today is just the beginning of a fascinating new chapter for Siemens Medical Solutions. DPC is an ideal fit, as it has a similar philosophy to Siemens, with a dedication to trendsetting innovation, customer partnership, and efficiency in healthcare," said Erich R. Reinhardt, president and CEO of Siemens Medical Solutions of Siemens AG (NYSE: SI). "Combining the strengths of DPC and Bayer Diagnostics with those of Siemens Medical Solutions, we will be in a position to offer our customers and partners an unbeatable IVD combination and a most comprehensive portfolio covering both in-vivo and in-vitro diagnostics, combined with powerful IT solutions."

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