July 25, 2007—Siemens Medical Solutions, Malvern, Pa, has signed a merger agreement with Dade Behring Inc, Deerfield, Ill, a clinical laboratory diagnostics company. The deal is valued at approximately $7 billion, and is expected to close in Q208.

"The acquisition of Dade Behring will create significant value for our shareholders," said Erich R. Reinhardt, president of Siemens Medical. "It will strengthen Siemens’ position in the highly profitable and high-growth health care sector."

Dade Behring has operations in 35 countries. The company provides clinical laboratory equipment and integrated solutions for routine chemistry testing, immunodiagnostics, hemostasis testing and microbiology.

—Cat Vasko