Siemens Medical Solutions (Med) reports that the acquisition will enable the firm to expand its position in the high-growth molecular diagnostics market. At the end of April, Siemens announced the planned acquisition of Diagnostic Products Corporation (DPC) in the USA, a leading company in immunodiagnostics. The purchase price for Bayer Diagnostics - which had sales of €1.4 billion and a double-digit EBITDA margin in fiscal 2005 - is roughly €4.2 billion.
‘Acquisition of Bayer Diagnostics is part of our targeted strategy to create the healthcare industry’s first integrated diagnostics company by combining the entire imaging diagnostics, laboratory diagnostics and clinical IT value chain under one roof,’ Dr Klaus Kleinfeld, Siemens President and CEO explained.
The company adds that the Bayer division acquisition will enable the Siemens Group to ‘...tap the rapidly growing market for molecular diagnostics based on gene analysis (nucleid acid testing). Bayer Diagnostics is also a world market-leader in clinical chemistry with a leading position in near-patient testing, laboratory automation and haematology (blood cell diagnostics).’