ARTICLE | Strategy

Enveloping diagnostics

July 10, 2006 7:00 AM UTC

Siemens AG, Europe's largest engineering company, has thrown down the gauntlet to its rivals in the global medical technology market with its recent E4.2 billion ($5.3 billion) acquisition of Bayer AG's diagnostics division and the $1.9 billion acquisition of Diagnostics Products Corp. in April. According to the company, the deals make it the largest group in the world to offer both in vitro and in vivo diagnostics.

"The acquisition of Bayer Diagnostics is part of our targeted strategy to create the healthcare industry's first integrated diagnostics company by closing the loop on the entire imaging diagnostics, laboratory diagnostics and clinical IT value chain under one roof," President and CEO Klaus Kleinfeld told analysts on a conference call. "We are the only company to be able to do this," he said...