Siemens Japan Acquires Majority Stake Of Mochida Siemens Medical Systems

Main Category: Medical Devices / Diagnostics
Also Included In: MRI / PET / Ultrasound
Article Date: 03 Oct 2007 - 4:00 PDT

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Mochida Pharmaceutical Co., Ltd., and Siemens K.K. Japan have agreed to change the ownership interest both companies hold in their joint venture Mochida Siemens Medical Systems Co., Ltd. Mochida Pharmaceutical transferred 16 percent of its outstanding shares to Siemens K.K., making Siemens K.K. a 51 percent equity stakeholder. The share transfer means that Mochida Siemens Medical Systems Co., Ltd. will become a fully consolidated subsidiary of Siemens and an equity-consolidated affiliate of Mochida Pharmaceutical Co., Ltd.

The joint venture's current President, and Representative Director, Shuichi Ishii, will retain his position and take on additional responsibilities as the company's Chief Operating Officer (COO). Holger Klotz, currently the Managing Director and CEO of Mobisphere Ltd., a Siemens and NEC Joint Venture, will join the management team as CEO, Chairman and Representative Director.

Since its formation in 2004, the joint venture Mochida Siemens Medical Systems has steadily expanded its business in the diagnostic ultrasound market in Japan, especially in the obstetrics and gynecology market where it holds a significant market share. With the new International management and a comprehensive product and applications portfolio, Siemens-Mochida plans to expand its position in the cardiovascular and internal medicine markets, addressing the health issues in Japan across the entire spectrum of ultrasound solutions.

The Siemens group in Japan consists of 14 companies that center on the holding company Siemens K.K., with sales of 115 billion yen and about 1970 employees in fiscal year 2006. Medical Solutions is the core business and accounts for about 60% of total turnover in Japan. Siemens is active in various fields in Japan like Automation & Drives, Power Generation, Automotive Systems, Lighting and so forth. With the establishment of a new company Siemens Medical Solutions Diagnostics K.K. by integrating Bayer's Diagnostics Division, Siemens has around 2300 employees in Japan now.

Siemens Medical Solutions is one of the world's largest suppliers to the healthcare industry. The company is known for bringing together innovative medical technologies, healthcare information systems, management consulting, and support services, to help customers achieve tangible, sustainable, clinical and financial outcomes. Recent acquisitions in the area of in-vitro diagnostics - such as Diagnostic Products Corporation and Bayer Diagnostics - mark a significant milestone for Siemens as it becomes the first full service diagnostics company. Employing more than 41,000 people worldwide and operating in over 130 countries, Siemens Medical Solutions reported sales of 8.23 billion EUR, orders of 9.33 billion EUR and group profit of 1.06 billion EUR for fiscal 2006 (Sept. 30).

http://www.siemens.com