Siemens Forms Full Service Diagnostics Company

Siemens has been given the okay to acquire the diagnostics division of Bayer Healthcare without restrictions. The approval was granted yesterday by the European Commission, following the earlier approval by U.S. antitrust authorities at the beginning of October. For Siemens, this follows the acquisition of the Diagnostic Products Corp. (DPC) at the end of July. Upon completion of the Bayer acquisition, which is expected by early 2007, both companies will be merged and will operate as "Siemens Medical Solutions Diagnostics."
The acquisition of the two companies will make Siemens Medical Solutions number two worldwide in immunodiagnostics. Bayer Diagnostics is also a leader in clinical chemistry with a position in near-patient testing, laboratory automation and hematology (blood cell diagnostics). In addition, the acquisition of Bayer Diagnostics will enable the Siemens Group to get involved in the market for molecular diagnostics based on gene analysis (nucleid acid testing).
"Molecular medicine has huge potential to detect diseases such as cancer at a much earlier stage than what is possible today," said professor Dr. Erich R. Reinhardt, member of the managing board of Siemens AG and president and CEO of Siemens Medical Solutions. "Molecular medicine is already helping physicians choose suitable medications for a particular patient, predict the effects of those medications and personalize patients' treatments. The long-term vision is to identify and treat the molecular causes of diseases long before the patient ever experiences any symptoms, and Siemens is at the forefront of developing these molecular medicine solutions that will transform the future of healthcare."