Siemens has signed an agreement to acquire US-based Dade Behring, a clinical laboratory diagnostics company.
Siemens has signed an agreement to acquire US-based Dade Behring, a clinical laboratory diagnostics company. The deal, worth around US $7 billion, is expected to close in the second quarter of 2008. Dade Behring provides clinical laboratory equipment and solutions for routine chemistry testing, immunodiagnostics (including infectious disease testing), hemostasis testing and microbiology.
The company has around 6,400 employees, and posted revenue of US $1.7 billion and pre-tax profits of US$201 million in 2006. Siemens says the acquisition furthers its goal of becoming the global leader in full-service diagnostics - providing imaging diagnostics, clinical laboratory diagnostics and healthcare IT solutions.
"The planned acquisition of Dade Behring complements our current capabilities and offers us the unique opportunity to create an unparalleled portfolio of products and services, and become world market leader in comprehensive clinical laboratory diagnostics," said Erich R. Reinhardt, president of Siemens Medical Solutions.
Jim Reid-Anderson, Dade Behring's CEO, president and chairman, added: "Together, Dade Behring and Siemens will become uniquely positioned to offer the broadest and most capable range of clinical diagnostic products and services in the world. I am confident that this is the right decision for our company and I am convinced that this next stage for Dade Behring will be both exciting and rewarding as we set a new standard for being part of the world's first full service diagnostic company."For all the latest health tips & news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.