financetom
Business
financetom
/
Business
/
Siemens reviewing Healthineers majority stake, CFO tells Handelsblatt
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Siemens reviewing Healthineers majority stake, CFO tells Handelsblatt
Dec 29, 2024 3:21 PM

MUNICH (Reuters) - Siemens AG is reviewing its majority stake in medical technology subsidiary Siemens Healthineers,, the German technology group's Chief Financial Officer Ralf Thomas told the Handelsblatt newspaper.

The synergies with the manufacturer of MRI machines and laboratory systems are not great enough to justify a capital commitment of 45 billion euros ($46.91 billion), Thomas told Handelsblatt, referring to how much Siemens' 75% equity stake is worth.

"We are evaluating the economic opportunities for Siemens AG in the healthcare sector. We will then derive from this how instrumental Healthineers is as an investment. And then we will draw a conclusion from that," he said, adding that the results will be presented at a capital markets day at the end of 2025.

Siemens AG spun off the Erlangen, Germany-based subsidiary in 2018 and floated it on the stock exchange. Until now, Siemens had maintained it would keep the majority stake in Siemens Healthineers.

However, Thomas recently held out the prospect of selling around 5% in the foreseeable future to finance the takeover of U.S. software company Altair.

Thomas said he remained committed to the Mobility train division, which investors have repeatedly called to be spun off.

"The business is in good hands with us. I don't see any need for us to part with it at the moment," he told Handelsblatt.

($1 = 0.9592 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Why G-III Apparel Shares Are Plunging Today
Why G-III Apparel Shares Are Plunging Today
Jun 6, 2024
G-III Apparel Group, Ltd. ( GIII ) shares are trading lower after the company reported first-quarter FY25 results. Sales of $609.7 million missed the consensus estimate of $616.3 million. The gross profit rose to $258.9 million from $249.8 million a year ago. Operating profit declined to $13.504 million from $15.264 million in the prior year quarter. Adjusted EPS stood at $0.12 versus...
Martinrea Invests Near $35 Million to Expand Ridgetown, Ontario, Facility
Martinrea Invests Near $35 Million to Expand Ridgetown, Ontario, Facility
Jun 6, 2024
11:50 AM EDT, 06/06/2024 (MT Newswires) -- Martinrea International ( MRETF ) said Thursday it plans to invest nearly $35 million to expand its facility in Ridgetown, Ontario with a new addition to house a new SIMPAC 3000 metric ton stamping press, a project is expected to be completed early 2025. The auto-parts manufacturer said the press will allow larger...
Walmart Likely to Continue Multi-Year Profit Boom, Oppenheimer Says
Walmart Likely to Continue Multi-Year Profit Boom, Oppenheimer Says
Jun 6, 2024
11:52 AM EDT, 06/06/2024 (MT Newswires) -- Walmart ( WMT ) is likely to continue its multi-year profit boom amid strong in-store execution and momentum in its core geographies, Oppenheimer said Thursday. We expect a multiyear profit boom to continue driven by strong management execution, momentum in WMT's core geographies, and further scaling of higher margin alternative revenue streams, Oppenheimer...
Why Freight Technologies Stock Is Soaring Thursday
Why Freight Technologies Stock Is Soaring Thursday
Jun 6, 2024
Freight Technologies, Inc ( FRGT ). shares are trading higher Thursday after the company said it added new customers and carriers to its app. What Happened: Supply chain optimization company Freight Technologies ( FRGT ) has announced the addition of 26 customers and 149 carriers to its Fr8App, the company’s AI-powered freight matching platform. Through the addition of new customers,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved