Siemens Healthineers

Last updated
Siemens Healthineers AG
Company type Public ( Aktiengesellschaft )
FWB:  SHL
DAX component
ISIN DE000SHL1006
IndustryHealthcare
Founded1 December 2017;6 years ago (2017-12-01) in Munich, Germany
Headquarters,
Germany
Area served
Worldwide
Key people
  • Bernd Montag (CEO)
  • Jochen Schmitz (CFO)
ProductsAngiography and Interventional X-ray Systems
Computed Tomography
Radiation Oncology
Laboratory Diagnostics
Molecular Diagnostics
Molecular Imaging
Magnetic Resonance Imaging
Point-of-Care Diagnostics
Refurbished Systems
Services
Syngo Imaging Software
Ultrasound
X-ray Products
RevenueIncrease2.svg€21.7 billion (2022) [1]
Increase2.svg€2.927 billion (2022) [1]
Increase2.svg€2.054 billion (2022) [1]
Total assets Increase2.svg€33.614 billion (2022) [1]
Total equity Increase2.svg€19.852 billion (2022) [1]
Owner Siemens (75%)
Number of employees
69,500 (2022)
Divisions
  • Advanced Therapies
  • Diagnostics
  • Imaging
Website siemens-healthineers.com

Siemens Healthineers (formerly Siemens Healthcare, Siemens Medical Solutions, and Siemens Medical Systems) is a German company which provides healthcare services. [2] It was spun off from its parent company Siemens in 2017, which retains a 75% stake. Siemens Healthineers is the parent company for several medical technology companies and is headquartered in Erlangen, Germany.

Contents

The name Siemens Medical Solutions was adopted in 2001, and the change to Siemens Healthcare was made in 2008. In 2015, Siemens named Bernd Montag as its new global CEO. [3] [4] In May 2016, the business operations of Siemens Healthcare were rebranded "Siemens Healthineers." [5] [6] [7]

Globally, the companies owned by Siemens Healthineers have 65,000 employees. [8]

History

19th century

The history of Siemens Healthineers started in Berlin in the mid-19th century as a part of what is now known as Siemens AG. Siemens & Halske was founded by Werner von Siemens and Johann Georg Halske on 12 October 1847. [9] [10] The company formed around an invention created by Siemens called the pointer telegraph. Based on the telegraph, Werner von Siemens' new invention used a needle to point to the sequence of letters, instead of using Morse code. [11] The company, then called Telegraphen-Bauanstalt von Siemens & Halske, opened its first workshop on 12 October. [12] Eventually, the new company included electrometrical equipment and specialized in medical technology. [13] [14]

In 1896, only one year after Wilhelm Conrad Röntgen discovered the X-ray, Siemens produced the first industrially manufactured X-ray tubes for medical diagnostics. [15] [16]

20th century

In Aschaffenburg, Germany, X-ray pioneer Friedrich Dessauer founded his own company, which later came to prominence under the name Veifa-Werke. The companies maintained close ties with each other, finally merging in 1932 to form Siemens-Reiniger-Werke (SRW). [17] [13] Later, in 1933, Siemens introduced rotating anode tubes for X-rays that could withstand much greater electrical loads, laying the foundation for the development of modern X-ray tubes. [18]

Supported by Siemens in Erlangen, Inge Edler, a Swedish physician, and physicist Carl Hellmuth Hertz were intrigued by the idea of using ultrasound technology to achieve more precise heart diagnoses. In 1953, they became the first to use the ultrasound technique for echocardiography. [15]

In 1958, Elema-Schönander AB (subsequently Siemens-Elema AB) developed the first cardiac pacemaker implanted in a critically ill heart patient by surgeon Åke Senning. [15] [19]

In the 1960s, Siemens engineer Ralph Soldner developed the world's first "real-time" ultrasound unit, the Vidoson. [20] With this technology, technicians could view movements inside the body on a screen as they were taking place. [21] [15]

In 1974, The company exhibited its first tomographic image of a human head at an annual meeting of the Radiological Society of North America, in Chicago. One year later, the company released its first computed tomography scanner, the Siretom. [22] [15] [23]

In 1998, Siemens introduced the first track-based laboratory automation system, the ADVIA LabCell Automation Solution. [24]

21st century

Siemens was the first to combine positron emission tomography (PET) with computed tomography (CT). [25] By creating this hybrid imaging system, Siemens combined the PET scanner's ability to visualize biological processes of life with a CT system's anatomical image of tissues and organs. In doing so, the combination system allows a simultaneous display of anatomy and biological function. Time magazine named the Siemens Biograph, the world's first commercial PET-CT scanner, the "Innovation of the Year" in 2000. [15] [26]

In a similar fashion, Siemens launched the Biograph mMR in 2010, the first scanner to completely combine MRI and PET technologies. [27] [28] Like PET-CT, PET-MR hybrid systems combine multiple technologies to provide a better image of the body, enabling better diagnoses, research, and treatment plans for patients. It combines precise images of body tissues from MRI with metabolic cell activity from PET. [15]

In 2011, Siemens discontinued its linear accelerators for the treatment of cancer, citing cost pressures and a decision to focus on diagnostic imaging in cancer. [29] [30]

In May 2016, Siemens AG rebranded its Siemens Healthcare division to Siemens Healthineers as a part of its new management strategy. [31] [32] [33] CEO Bernd Montag introduced the name along with a five-minute celebratory dance routine performed outside the division's headquarters in Erlangen. The routine was met with ridicule; the Financial Times called it a "writhing, spandex-clad horror." [34] Multiple outlets called the new logo similar to that of Fitbit and called the rebranding a failure at large. [35] [36] The name also led some people to believe that it was an article from The Onion . [37] Montag later admitted that the dance routine was a mistake. [38]

In November 2017 the company announced its intention to become publicly-listed on the Frankfurt Stock Exchange in March 2018. A minority stake of up to 25% was expected to be sold at part of the IPO, which would be Germany's largest listing since the IPO of Deutsche Telekom in 1996. [39] The first day of trading was 16 March 2018, with a 15% stake sold at an initial share price of €28.00. [40]

Charitable activities

Siemens Healthineers has supported charitable giving around the world. The company has supported such programs such as the American Society for Clinical Pathology's (ASCP) laboratory student scholarships, the PATH Ingenuity Fellows mentorship program, and others. [41] [42]

The company has also contributed to disaster relief efforts. In response to hurricane Katrina in 2005, Siemens Healthineers donated heart monitors and imaging equipment to Houston-area hospitals while parent company, Siemens AG, matched 100% of U.S. employee donations to the American Red Cross Disaster Relief Fund. [43] After the 2010 earthquake in Haiti, Siemens Healthineers donated medical equipment to aid healthcare workers in their efforts to help victims. [44] The company responded similarly in 2015 when a 7.8 magnitude earthquake struck Nepal. Siemens Healthineers provided the relief efforts with a magnetic resonance imaging machine in addition to the funds donated by Siemens AG. [45]

Mergers and acquisitions

In 2005, Siemens Medical Solutions USA, Inc. acquired CTI Molecular Imaging for $1 billion (€750 million, $20.50 per share) incorporating it into its Advanced Imaging business. [46]

In 2006, the business announced it would acquire Diagnostics Products Corporation for around $1.9 billion (€1.5 billion). Established in 1971, Diagnostics Products Corporation produced immunodiagnostics and supplies for fertility diagnosis and in-vitro allergy testing, with the business being incorporated into the Laboratory Diagnostics division post-deal. [47] In the same year the company announced it would acquire Bayer's Diagnostics division, for €4.2 billion, boosting the business's offerings in a range of services for in-vitro diagnosis. [48]

In November 2007, Siemens announced it would further expand its laboratory diagnostics range, via the acquisition of Dade Behring, producer of clinical laboratory equipment and products for routine chemistry testing, immunodiagnostics (including infectious disease testing), hemostasis testing, and microbiology. [49]

In November 2011 the business acquired MobileMD, [50] later divesting the business in 2014 to Cerner for $1.3 billion (€970 million). [51]

In September 2012 the company announced it would acquire Penrith Corporation, manufacturer of ultrasound imaging systems. [52]

In November 2016, Siemens Healthineers (via Siemens Healthcare GmbH) acquired Conworx Technology GmbH, a Berlin-based developer of point-of-care device interfaces and data management solutions.[ clarification needed ] [53]

In May 2016, Siemens Healthineers expanded its molecular diagnostics portfolio with the acquisition of NEO New Oncology AG. [54]

In April 2017, Siemens Healthineers expanded into radiological information systems with the acquisition of Medicalis Corporation. [55]

In 2019, the business announced the acquisition of vascular robotics start-up, Corindus, for $1.1 billion (€980 million). [56]

In August 2020, the business announced it would acquire Varian Medical Systems, for $16.4 billion (€13.9 billion), representing a return to radiation therapy after the discontinuation of Siemens' own linear accelerators in 2011. [57] [58] After the merger Varian will continue to operate as an independent company and will retain its headquarters along with its 10,000 employees. [59] [60]

Related Research Articles

<span class="mw-page-title-main">Radiology</span> Branch of Medicine

Radiology is the medical specialty that uses medical imaging to diagnose diseases and guide their treatment, within the bodies of humans and other animals. It began with radiography, but today it includes all imaging modalities, including those that use no ionizing electromagnetic radiation, as well as others that do, such as computed tomography (CT), fluoroscopy, and nuclear medicine including positron emission tomography (PET). Interventional radiology is the performance of usually minimally invasive medical procedures with the guidance of imaging technologies such as those mentioned above.

<span class="mw-page-title-main">Agfa-Gevaert</span> Belgian-German imaging company

Agfa-Gevaert N.V. (Agfa) is a Belgian-German multinational corporation that develops, manufactures, and distributes analogue and digital imaging products, software, and systems.

<span class="mw-page-title-main">Siemens</span> German multinational conglomerate company

Siemens AG is a German multinational technology conglomerate. Its operations encompass automation and digitalization in the process and manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, rail transport solutions, as well as health technology and digital healthcare services. Siemens is the largest industrial manufacturing company in Europe, and holds the position of global market leader in industrial automation and industrial software.

<span class="mw-page-title-main">Medical imaging</span> Technique and process of creating visual representations of the interior of a body

Medical imaging is the technique and process of imaging the interior of a body for clinical analysis and medical intervention, as well as visual representation of the function of some organs or tissues (physiology). Medical imaging seeks to reveal internal structures hidden by the skin and bones, as well as to diagnose and treat disease. Medical imaging also establishes a database of normal anatomy and physiology to make it possible to identify abnormalities. Although imaging of removed organs and tissues can be performed for medical reasons, such procedures are usually considered part of pathology instead of medical imaging.

<span class="mw-page-title-main">GE HealthCare</span> American multinational medical technology company

GE HealthCare Technologies, Inc., doing business as GE HealthCare, is an American multinational medical technology company headquartered in Chicago, Illinois. It was spun-off from General Electric on January 4, 2023, with GE retaining 10.24%. As of 2017, it is a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals for imaging modalities used in medical imaging procedures. It offers dyes used in magnetic-resonance-imaging procedures; manufactures medical diagnostic equipment, including CT image machines; MRI, XRAY; Ultrasound; Cath Labs; Mammogram; Nuclear Medicine Cameras; and develops Health technology for medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery, and biopharmaceutical manufacturing. It was incorporated in 1994 and operates in more than 100 countries.

<span class="mw-page-title-main">Varian Medical Systems</span> American healthcare company

Varian Medical Systems is an American radiation oncology treatments and software maker based in Palo Alto, California. Their medical devices include linear accelerators (LINACs) and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies software for managing cancer clinics, radiotherapy centers, and medical oncology practices. Varian Medical Systems employs more than 7,100 people at manufacturing sites in North America, Europe, and China and approximately 70 sites globally.

Siemens Communications was the communications and information business arm of German industrial conglomerate Siemens AG, until 2006. It was the largest division of Siemens, and had two business units – Mobile Networks and Fixed Networks; and Enterprise.

<span class="mw-page-title-main">Bruker</span> American scientific instrument manufacturer

Bruker Corporation is an American manufacturer of scientific instruments for molecular and materials research, as well as for industrial and applied analysis. It is headquartered in Billerica, Massachusetts, and is the publicly traded parent company of Bruker Scientific Instruments and Bruker Energy & Supercon Technologies (BEST) divisions.

<span class="mw-page-title-main">Peer M. Schatz</span>

Peer M. Schatz is a Swiss and Austrian entrepreneur and executive in the life sciences. Among other roles, he was the chief executive officer of QIAGEN N.V. where he over almost 30 years led QIAGEN's development from a startup to a global market and technology leader with over 5100 employees and to a market capitalization of over $10 billion.

Varian Associates was one of the first high-tech companies in Silicon Valley. It was founded in 1948 by Russell H. and Sigurd F. Varian, William Webster Hansen, and Edward Ginzton to sell the klystron, the first vacuum tube which could amplify electromagnetic waves at microwave frequencies, and other electromagnetic equipment. Varian Associates split into three companies in 1999: Varian Medical Systems, Varian, Inc. and Varian Semiconductor.

<span class="mw-page-title-main">PET-CT</span> Medical imaging method

Positron emission tomography–computed tomography is a nuclear medicine technique which combines, in a single gantry, a positron emission tomography (PET) scanner and an x-ray computed tomography (CT) scanner, to acquire sequential images from both devices in the same session, which are combined into a single superposed (co-registered) image. Thus, functional imaging obtained by PET, which depicts the spatial distribution of metabolic or biochemical activity in the body can be more precisely aligned or correlated with anatomic imaging obtained by CT scanning. Two- and three-dimensional image reconstruction may be rendered as a function of a common software and control system.

Unify is a Mitel company headquartered in Munich, Germany and is present in over 100 countries. It provides software-based enterprise unified communications including voice, Web collaboration, video conferencing and contact center, networking product and services.

<span class="mw-page-title-main">Elscint</span>

Elscint was an Israeli technology company that developed, manufactured and sold medical imaging solutions, including: Nuclear medicine, computed tomography magnetic resonance imaging and X-ray scanners. Elscint's shares traded on the NASDAQ as well as on the Tel Aviv Stock Exchange. At its height, Elscint was a world leader in the development of medical imaging technologies. Most of Elscint's activities were sold to GE Healthcare and Philips Medical Systems.

<span class="mw-page-title-main">PET-MRI</span>

Positron emission tomography–magnetic resonance imaging (PET–MRI) is a hybrid imaging technology that incorporates magnetic resonance imaging (MRI) soft tissue morphological imaging and positron emission tomography (PET) functional imaging.

Canon Medical Systems Corporation is a medical equipment company based in Ōtawara, Tochigi, Japan. Formerly known as Toshiba Medical, a subsidiary of Toshiba, the company was an early pioneer on X-ray tubes in 1914 in Japan. Canon Medical Systems feature product such as MRI and helical CT.

Alliance Medical is a radiology services company founded in 1989 by Robert Waley-Cohen operating across Europe.

<span class="mw-page-title-main">Aster Medcity</span> Hospital in Kerala, India

Aster Medcity is a quaternary care healthcare centre in the city of Kochi and one of the largest in South India. It is the flagship hospital of Aster DM Healthcare, a healthcare conglomerate founded by Azad Moopen. This was the third venture of the group in Kerala, after Aster MIMS and DM Wayanad Institute of Medical Sciences (DMWIMS).

<span class="mw-page-title-main">Thyrocare</span> Indian medical diagnostic company

Thyrocare Technologies Limited is an Indian multinational chain of diagnostic and preventive care laboratories, headquartered in Navi Mumbai, Maharashtra. The company has a total of 1,122 outlets and collection centers across India and parts of Nepal, Bangladesh and the Middle East.

Terason, a division of Teratech Corporation, is a global medical ultrasound imaging company headquartered in Burlington, Massachusetts, USA. Terason was the first to patent color portable ultrasound and is a market leader in ultrasound-guided venous intervention. Terason produces portable ultrasound products and technologies and has provided ultrasound systems to clinicians, hospitals, outpatient centers, and OEM partners since 2000.

References

  1. 1 2 3 4 5 "Siemens Healthineers with strong performance in a challenging environment" . Retrieved 19 November 2023.
  2. "Corporate info". Siemens Healthineers. Archived from the original on 19 October 2022. Retrieved 4 February 2022.
  3. Prodhan, Georgina. "Siemens names new healthcare bosses, power head goes", Reuters , 26 January 2015. Retrieved on 28 January 2016.
  4. Medical Dealer. "Siemens Healthcare management reorganized with Bernd Montag as CEO", Medical Dealer , 27 January 2015. Retrieved on 28 January 2016.
  5. AuntMinnie.com. "Siemens Healthcare now known as Siemens Healthineers", AuntMinnie.com, 4 May 2016. Retrieved on 12 May 2016.
  6. Reuters. "Siemens healthcare rebrands as 'Healthineers'", Reuters, 4 May 2016. Retrieved on 12 May 2016.
  7. Siemens Corporate Website. "Siemens Healthcare Becomes Siemens Healthineers" Archived 8 May 2016 at the Wayback Machine , Siemens, 4 May 2016. Retrieved on 12 May 2016.
  8. Siemens Corporate Website, results for Fiscal Year 2020. Retrieved on 16 June 2021.
  9. "Werner von Siemens" Archived 25 February 2022 at the Wayback Machine , "Wobbe Vegter", 2006. Retrieved on 2 February 2016.
  10. Feldenkirchen, Wilfried. Werner von Siemens: Inventor and International Entrepreneur, 1992. Print.
  11. Huurdeman, Anton A. "Electrical Telegraph in Germany", The Worldwide History of Telecommunications, 2003. Retrieved on 2 February 2016.
  12. "Founding of the 'Siemens & Halske Telegraph Construction Company,' which later became Siemens AG", Siemens AG, Retrieved on 29 September 2015.
  13. 1 2 "Company History", Siemens Healthcare Website, Retrieved on 23 May 2023.
  14. Fouse, Gary C."Reiniger-Gebbert-Schall- Forerunners of Siemens Medical Solutions in Eralngen". Erlangen: An American's History of a German Town, 2005. Retrieved 19 February 2016.
  15. 1 2 3 4 5 6 7 "Technological milestones", Siemens Corporate Website, Retrieved on 23 May 2023.
  16. Hess, Edward D., and Robert K. Kazanjian. "Siemens Medical Solutions: significant innovations". The Search for Organic Growth, 2006. Retrieved on 2 February 2016.
  17. The Editors of Encyclopædia Britannica. "Siemens AG", Encyclopædia Britannica, Retrieved on 4 February 2016.
  18. "Siemens Pantix Tubes", The University of Manchester Library Image Collections, 2007. Retrieved 19 February 2016.
  19. Cooley, Denton A., MD. "In Memoriam: Tribute to Åke Senning, Pioneering Cardiovascular Surgeon", US National Library of Medicine, National Institutes of Health, 2000. Retrieved 12 February 2016.
  20. Woo, Joseph, Dr. "A short History of the Real-time ultrasound scanner", Ultrasound in Obstetrics and Gynecology, 1998–2001. Retrieved 12 February 2016.
  21. "The History of Ultrasound", Ultrasound Schools Guide, Retrieved 12 February 2016.
  22. "Brief History of CT", Imaginis, Retrieved 22 February 2016.
  23. "Original "Siretom" dedicated head CT scanner, circa 1974", CT Scan Tips and Protocols, 2012. Retrieved 22 February 2016.
  24. Felder, Robin A., PhD. "Is Lab Automation Right for Your Lab?", CAP Today, 2001. Retrieved 22 February 2016.
  25. Townsend, David W., PhD. "Combined PET/CT: the historical perspective", US National Library of Medicine, National Institutes of Health, 2008. Retrieved 26 February 2016.
  26. Kuhl, Helen. "PET/CT: A Dynamic Duo", Imaging Technology News, 3 May 2012. Retrieved 4 March 2016.
  27. Forrest, Wayne."Siemens to unveil Biograph mMR PET/MRI scanner at RSNA", Aunt Minnie.com, 19 November 2010. Retrieved 4 March 2016.
  28. "Siemens Healthcare Unveils Biograph mMR Whole-Body Integrated MR-PET System Capable of Simultaneous Data Acquisition ", BioSpace, 19 November 2011. Retrieved 4 March 2016.
  29. Nafziger, Brendon (22 December 2011). "Siemens to end linac sales". DOTmed.
  30. Keen, Cynthia E (23 December 2011). "Siemens explains rationale for linac exit". AuntMinnie.com.
  31. Siemens Healthineers."Siemens Healthcare Becomes Siemens Healthineers" Archived 8 May 2016 at the Wayback Machine Siemens Healthineers, 4 May 2016. Retrieved 19 May 2016.
  32. Reuters."Siemens healthcare rebrands as 'Healthineers'" Reuters, 4 May 2016. Retrieved 19 May 2016.
  33. DOTMed."Siemens rebrands health care business as Siemens Healthineers" DOTMed, 4 May 2016. Retrieved 19 May 2016.
  34. Kellaway, Lucy (15 May 2016). "The Siemens Healthineers song is a writhing, Spandex-clad horror" . Financial Times. Archived from the original on 11 December 2022. Retrieved 5 June 2019.
  35. "Siemens Healthcare demonstrates how to totally fail at rebranding your business". Boing Boing. 18 May 2016.
  36. at 11:02, Lester Haines 5 May 2016. "Siemens Healthcare struck by rebranding madness". www.theregister.co.uk.{{cite web}}: CS1 maint: numeric names: authors list (link)
  37. Lynn, John (6 May 2016). "Fun Friday – Siemens Healthineers Video". Healthcare IT Today.
  38. "Siemens Healthineers-Chef Montag: "Im Nachhinein war das sicher ein Fehler"". www.handelsblatt.com.
  39. Siemens chooses Frankfurt over New York for Healthineers IPO, 29 November 2017 Retrieved 24 January 2018
  40. Börse Frankfurt Siemens Healthineers AG Retrieved 6 November 2018
  41. "Pursue Your Career with Funding From the Siemens-ASCP Scholarship Program" Archived 16 September 2017 at the Wayback Machine ASCP Website, Accessed 16 September 2016.
  42. "PATH and Siemens Foundation partner to launch Ingenuity Fellowships" ‘’PATH Website’’, Accessed 16 September 2016.
  43. "Siemens donates to Katrina relief" AuntMinnie.com, 5 September 2005, Accessed 16 September 2016.
  44. "Siemens Healthcare Donates Needed Medical Equipment to Haiti Disaster Relief" Siemens Corporate Site, 25 January 2010, Accessed 16 September 2016.
  45. "Disaster relief for Nepal" Siemens Corporate Site, Accessed 16 September 2016.
  46. "Siemens to buy CTI Molecular Imaging, Inc., for $1 billion". Memphis Business Journal. 18 March 2005.
  47. "Siemens to Acquire Diagnostic Products Corporation; Siemens Medical Solutions Enters the In-Vitro Diagnostics Market" (Press release). 27 April 2006.
  48. "Siemens buys Bayer's diagnostics division". Business Standard. 6 February 2013.
  49. "Siemens acquire Dade Behring". 1 August 2007.
  50. Miliard, Mike (4 November 2011). "Siemens to acquire HIE developer MobileMD". Healthcare IT News.
  51. "Siemens sells hospital IT business to Cerner for $1.3 billion". Reuters. 5 August 2014.
  52. Arrowsmith, Niki (22 August 2012). "Siemens To Acquire Penrith". Medical Product Outsourcing.
  53. "Siemens Acquires Conworx Technology". Clinical Lab Products. 27 December 2016.
  54. Lawrence, Stacy (17 May 2016). "Siemens buys German liquid biopsy startup to enter molecular oncology Dx". FierceBiotech.
  55. Pender, Terry (21 April 2017). "Medicalis to be acquired by health-care unit of Siemens". The Waterloo Region Record.
  56. Höpner, Axel; Telgheder, Maike (8 August 2019). "Milliarden-Wette auf die Zukunft: Siemens Healthineers übernimmt US-Firma Corindus". Handelsblatt (in German).
  57. Poltz, Jörn; Busvine, Douglas (2 August 2020). "Siemens Healthineers expands into cancer care with $16.4 billion deal for Varian". Reuters.
  58. Casey, Brian (3 August 2020). "Siemens to buy Varian in $16B deal". AuntMinnie.com.
  59. "Varian to Combine with Siemens Healthineers in $16.4 Billion All-Cash Transaction" (Press release). Varian. 2 August 2020.
  60. Rachal, Maria (2 August 2020). "Varian sold to Siemens Healthineers in $16.4B all-cash deal". MedTech Dive.