Siemens Medical Solutions Chief Sets Focus on Integration
Siemens Medical made several large acquisitions this year including Diagnostic Products Corporation and Bayer Healthcare’s Diagnostics Division for a total of more than $7 billion. Its Chief Executive Officer, President and Board Member Erich Reinhardt, has been working for Siemens since 1983 and became its CEO in 1994. In an interview with Reuters at a radiology conference in Chicago he is quoted as saying: “We have to justify the acquisitions and that means profitability.” His aim is to create a prime full service diagnostics company with a wide range of laboratory tests. According to Reinhardt the company now has the bulk of its acquisitions behind itself and needs to implement its strategy with the existing portfolio.
November 27, 2006 Related topics: Mergers & Acquisitions, Diagnostic