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Profits Climb at Philips, Siemens, Despite Worries Over Medical Equipment Business

by Lynn Shapiro, Writer | November 10, 2008

Siemens reported that healthcare revenue rose 10 percent to $3.4 billion, (2.67 billion Euros) including new sales from Dade Behring Holdings in the diagnostics division. The company said that all three divisions of the company contributed to sales growth in the quarter.

Its healthcare sector's largest division, imaging and IT posted a profit of $253.97 (199 million Euros) in this year's third quarter, an 11 percent drop from the year-ago period which was negatively affected by currency effects, Siemens said.

Revenue and orders for imaging and IT were $2 billion, (1.57 billion Euros) and $2.17 (1.7 billion Euros) respectively, in the last quarter. Revenue climbed 3 percent and orders climbed 8 percent, as a result of new MRI and CT equipment offerings.

In other news, GE, Stamford, CT, reported it has completed its acquisition of Vital Signs, Inc., Totowa, NJ., for $860 million. Vital Signs designs, manufactures and markets single-patient use medical products for the anesthesia and respiratory/critical care markets, as well as devices and services for the diagnostic and treatment of obstructive sleep apnea.

Meanwhile, Agfa HealthCare's sales decreased 8.8 percent to $374.3 million in the third quarter of 2008, compared last year, according to Health Imaging.

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