November 13, 2006—Siemens Medical Solutions Inc (Malvern, Pa) has been given the green light by the European Commission to proceed with its acquisition of Bayer Diagnostics Inc, a division of Bayer Healthcare (Tarrytown, NY). The European approval follows that of United States antitrust authorities, which came through at the beginning of October, and clears the path for Siemens to establish its new “Siemens Medical Solutions Diagnostics” subsidiary.
Siemens will pay roughly $5.4 billion for Bayer Diagnostics. The acquisition is expected to be complete by early 2007, after which Siemens will be able to combine imaging diagnostics, laboratory diagnostics, and the clinical information technology value chain under one roof. The investment will also allow the company to tap the growing market for molecular diagnostics.
Earlier this year, Siemens purchased Diagnostic Products Corporation Inc (Los Angeles) for $1.86 billion.
—Cat Vasko
