Siemens Renames its Healthcare Business

German industrial group Siemens rebranded its healthcare business following the unit’s carve-out into a separate legal entity that may be a precursor to an independent stock market listing.

The new brand name, “Siemens Healthineers,” is intended to underline its pioneering spirit, Siemens said in a statement.

“The new name embodies the company’s pioneering spirit and engineering expertise in the healthcare industry. It is unique and bold and gives a new identity to the organization and to the people – the people accompanying, serving and inspiring healthcare providers worldwide – the people behind outstanding products and solutions,” a company statement said. “Siemens Healthineers will continue to strengthen its leading portfolio across the medical imaging and laboratory diagnostics business, and complementing it with new offerings such as management‐, consulting‐, and digital services, and further technologies in the growing therapeutic and molecular diagnostics market.

The company said these would include managed services, consulting and digital services as well as further technologies in the growing market for therapeutic and molecular diagnostics.

“We have an exceptional track record of engineering and scientific excellence and are consistently at the forefront of developing innovative clinical solutions that enable providers to offer efficient, high quality patient care. Going forward as Siemens Healthineers, we will leverage this expertise to provide a wider range of customized clinical solutions that support our customers business holistically. We are confident in our capability to become their inspiring partner on our customers’ journey to success”, explained Bernd Montag, CEO of Siemens Healthcare. “Our new name is a bold signal for our ambition and expresses our identity as a people company – 45,000 employees worldwide who are passionate about empowering healthcare providers to optimally serve their patients.”

Siemens earlier reported forecast-beating second-quarter results that included a 5 percent increase in sales at its healthcare unit, driven by the United States and its diagnostic imaging business.

The group wants the healthcare business to be able to stand alone to better weather paradigm shifts in the industry including an increasing focus on consumer technology, and potentially to fund its own acquisitions.