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February 1, 2007
2 Min Read
MOVERS AND SHAKERS 2006
The acquisitions of DCP and Bayer open new diagnostic markets for Siemens.
Siemens has made major moves to position itself at the forefront of the future of diagnostics. The company's goal of combining in vivo and in vitro diagnostics with a broad range of imaging, laboratory, and IT applications came nearer to fruition with the multi-billion-dollar acquisitions of Diagnostic Products Corp. (DPC) and Bayer Diagnostics.
In late April of 2006, Siemens announced that it was acquiring DPC for just under $2 billion. DPC, a leader in immunodiagnostics, specializes in the development and manufacture of automated body fluid analyzers and tests for heart disease, cancer, and hormone and allergy conditions.
Siemens is well known for its computed-tomography imaging devices, such as the Biograph 64.
“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 Siemens Medical Solutions CEO Erich Reinhardt.
After the deal closed in July, DPC became a wholly owned subsidiary of Siemens Medical Solutions USA Inc. The deal extends Siemens' reach significantly, given DPC's presence in more than 100 countries.
One month before completing the DPC deal, Siemens announced its acquisition of Bayer's diagnostics division for approximately $5.3 billion. While the DPC purchase gave Siemens access to laboratory diagnostics, the Bayer Diagnostics deal can get Siemens involved in molecular medicine.
Because advances in molecular medicine allow medical treatment to be increasingly tailored to individual patients, Siemens seems to be following through with “rigorously focusing its portfolio on promising growth fields.” Molecular medicine can be used to help fight diseases using genetic profiles, detect diseases earlier, and determine the effects of medication before it is prescribed. The Bayer acquisition should be completed in early 2007. Bayer Diagnostics and DPC will be merged and will operate as Siemens Medical Solutions Diagnostics.
Copyright ©2007 Medical Device & Diagnostic Industry
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