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Siemens takes Fast Track Diagnostics for undisclosed amount

by Thomas Dworetzky, Contributing Reporter | December 19, 2017
Business Affairs

The move is slated for the first half of 2018.

"Our preparations for the public listing are completely on schedule,” noted Siemens Chief Financial Officer Ralf P. Thomas, adding that both the Strategy 2025 concept and the management team are already in place.

Reports suggest that Siemens intends to sell about 25 percent as part of the listing – worth about $47.5 billion – which would make the IPO the largest in Germany since the 1996 Deutsche Telekom IPO of $13 billion.

It is also the biggest strategic play for CEO Joe Kaeser's efforts to reorganize the Munich-based industrial giant. Kaeser's Vision 2020 plan, begun in 2014, is aiming to narrow Siemens to a core and spin off other divisions in what he has dubbed a “fleet of ships” model, according the the Financial Times.

When asked by HCB News at November's RSNA show about further Siemens strategic plans for the coming year, David Pacitti, president of Siemens Medical Solutions USA Inc. and Head of Siemens Healthineers North America, observed, “I think next year we will be hearing more about outcomes and value. That conversation died down a little bit this year, but I think once things settle down on where the health system is going, there will be a rejuvenated and renewed buzz about focusing on outcomes and value-based care.”

He also stressed that while technological innovation is important, “it's not just technology; it's business model innovation that's going to be a continuing focus as well.”

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