DOTmed Home MRI Oncology Ultrasound Molecular Imaging X-Ray Cardiology Health IT Business Affairs
News Home Parts & Service Operating Room CT Women's Health Proton Therapy Endoscopy HTMs Mobile Imaging
SEARCH
Current Location:
>
> This Story

starstarstarstarstar (1)
Log in or Register to rate this News Story
Forward Printable StoryPrint Comment

 

 

Business Affairs Homepage

Imagia completes acquisition of Cadens Medical Imaging Supports company's goal to develop new AI-based software products

Shanghai Pharma to acquire Cardinal Health China business for $1.2 billion Deal includes pharma and medical products distribution business

ACR chair urges congress to fund low-dose radiation research Last BEIR report on effects of low-dose exposure issued over 10 years ago

GE to whittle down, focus more on health care CEO Flannery also plans to prioritize aviation and power businesses

First Lady of Mozambique visits KPI Healthcare headquarters Finalizing medical equipment contract to reduce mortality in African nation

Konica Minolta signs group purchasing agreement with Premier for the Exa platform The three-year deal brings special pricing to 3,900 hospitals

Mike Kaufmann Cardinal Health names new CEO

Why employers with dispersed workforces should care about physician quality Lower quality treatment yields higher systemwide expenses

Imaging departments stay afloat during hurricanes Advice from the front lines of Harvey and Irma

Stryker partners with Philips to offer new and reprocessed ECG leads for one low price May divert millions of pounds of waste from landfills per year

Siemens Healthineers IPO: New details from CEO, Joe Kaeser

by Thomas Dworetzky , Contributing Reporter
The IPO of Siemens Healthineers is entering its final lap, and should happen by the end of March, 2018, depending on “optimal timing,” Siemens CEO Joe Kaeser told CNBC Thursday.

"We have a fascinating health care business," Kaeser told the business network, adding, "and are going to float the business ... because we do believe this is an attractive market and we want to keep control of that business going forward."

Story Continues Below Advertisement

New OEC 9800 LCD upgrade available! Call today: 800-400-7972

Easy install retrofit kit! Extend the life of your OEC system by upgrading the CRTs to dual 2MP LED displays mounted on an articulating arm. Priced competitively & optimized for do-it-yourself installation in under an hour.



The IPO has been an ongoing story, highlighted by an August announcement that it would happen during 2018. Estimates for the worth of the unit would be at or about $47 billion.

The company is working now to put the final pieces of the puzzle together.

"So we are going to be done, latest, by March 2018 with our internal preparations, and then we will look into the market, what it does and what the options are, and we'll take it from there," Kaeser explained.

As part of the move toward a launch of the unit, the company also has appointed Jochen Schmitz to be the chief financial officer of the health care division.

Also part of the announcement was news that Siemens saw 4Q net profits up from a year ago. It reported revenue of 22.299 billion euros, up from 21.953 billion euros a year ago; with profits at 2.197 billion euros, over last year's 2.448 billion. Net income was 1.293 billion euros, again up from the year before of 1.176 billion euros.

Kaeser told the news agency that the quarter was “good” and that the organization had delivered on "everything we promised" for the current year.

"We have a structural challenge to overcome in the power generation business," he acknowledged, stressing that, "we are actively tackling the problem, we are going to fix it during the course of 2018."

In late October, ripples of the IPO deal made news when Siemens tapped three banks to lead the organization of the effort, and sources told Reuters at the time that Goldman Sachs, Deutsche Bank and JP Morgan will be “global coordinator mandates.”

The future of the Healthineers has been the subject of ongoing debate by investors for some time – ever since news that the intention was to list it broke one year ago.

"Health care technology is a highly attractive business in which we want to further expand our leading position," Kaeser said in a statement at the time, adding that "with this step, we continue to implement Vision 2020 launched in May 2014."

He stressed that the public listing will give the Healthineers "even more focus and flexibility in pursuing its growth strategy."

"Health care is one of the most attractive businesses, if not the most attractive we have in the company," he explained. "We want to focus it more."

The move had really been in the works since 2014, when Siemens created the health care component as a "company within the company." This gave it the ability to be agile enough to adjust to the the massive transformations sweeping the health care market.

"The public listing is now the next step in further strengthening Siemens Healthineers in Siemens for the future," he stated, stressing that the move came during a period when the Healthineers already held "a leading position" and the company had boosted its market share.

Business Affairs Homepage


You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2017 DOTmed.com, Inc.
ALL RIGHTS RESERVED