Sam Brusco, Associate Editor03.18.24
Siemens Healthineers intends to close its Fast Track Diagnostics unit, a small collection of polymerase chain reaction (PCR) testing products that’s part of its Diagnostics business.
The portfolio is mainly sold in Europe. The company said that demand for the Fast Track Diagnostics portfolio has dropped significantly since the peak of the COVID-19 pandemic.
Fast Track Diagnostics is a minor player in the molecular diagnostics space and collects a very small part of overall revenue of Siemens Healthineers’ Diagnostics business, the company said. It has about 90 employees mainly based in Luxembourg.
The company advised that conversations with local employee reps are happening, and local labor regulations will be adhered to in accordance with standard company practice. Siemens Healthineers plans to close the Fast Track Diagnostics unit by September 2024.
The company said the shift followed a strategic review of portfolio contributions and market opportunity. Its Diagnostics business will henceforth focus on centralized lab testing, specialty testing, and point of care diagnostics.
The company currently has in vitro diagnostic test solutions for nearly every clinical environment. Its central laboratory analyzers are used in research laboratories, clinical laboratories of local community hospitals, independent specialty laboratories, and in the largest reference labs in the world. It also boasts differentiated IVD test offerings with flexible, scalable, and integrated automation capabilities.
The portfolio is mainly sold in Europe. The company said that demand for the Fast Track Diagnostics portfolio has dropped significantly since the peak of the COVID-19 pandemic.
Fast Track Diagnostics is a minor player in the molecular diagnostics space and collects a very small part of overall revenue of Siemens Healthineers’ Diagnostics business, the company said. It has about 90 employees mainly based in Luxembourg.
The company advised that conversations with local employee reps are happening, and local labor regulations will be adhered to in accordance with standard company practice. Siemens Healthineers plans to close the Fast Track Diagnostics unit by September 2024.
The company said the shift followed a strategic review of portfolio contributions and market opportunity. Its Diagnostics business will henceforth focus on centralized lab testing, specialty testing, and point of care diagnostics.
The company currently has in vitro diagnostic test solutions for nearly every clinical environment. Its central laboratory analyzers are used in research laboratories, clinical laboratories of local community hospitals, independent specialty laboratories, and in the largest reference labs in the world. It also boasts differentiated IVD test offerings with flexible, scalable, and integrated automation capabilities.