Acquisition of Siemens LSS approved - and Swiss company acquired
Getinge today announces that
the acquisition of Siemens LSS has been approved and that the
transaction has been finalized
The acquisition of Siemens LSS,
published by Getinge 15 August 2003, was conditional on the
approval of competition authorities concerned.
Getinge today announces that all
competition authorities have approved the acquisition. The
condition for the acquisition has thus been fulfilled and the
transaction with Siemens has been finalized.
As previously announced, Siemens
LSS, along with the German company Dräger Medical, is the global
market leader for ventilation machines for the hospital market,
with a market share of almost 30%. In the anaesthesiology product
area LSS’ market share is around 6% globally and puts the
company in third place after Instrumentarium of Finland and Dräger
of Germany.
The division’s centre for
product development, manufacturing and marketing is located in
Solna, Sweden. Siemens LSS sells medical technology equipment to
around 100 countries annually, having its own sales companies on
all significant markets.
The acquisition of Siemens LSS is
a unique opportunity for Getinge to integrate one more world-leading
medical technology business into its most expansive area,
Surgical Systems. Siemens LSS meets all the criteria, which
Getinge considers important for an acquisition – a strong
product range, wide-ranging skills and focus, a strong market
position and a broad geographic platform.
Siemens LSS will be consolidated
into Getinge’s accounts from October this year.
The financing of the acquisition
is carried out using Getinge’s existing credit facilities.
Getinge announces additional
acquisition
Getinge today acquired all shares of a Swiss company, which
since 1981 has been an agent of the business area Surgical
Systems. The company has 7 employees and a sales turnover of
3.2 MEUR. The acquisition will
strengthen the business area's position on the Swiss market, and
give Surgical Systems the proper business structure for the
integration of Siemens LSS' activities in Switzerland.
Getinge, 9th October 2003
Johan Malmquist, President and CEO
GETINGE is a
leading provider of equipment and systems to customers within
health care, extended care and pharmaceutical industries/laboratories.
Equipment, services and technologies for infection control,
operating theatres, patient hygiene, patient handling and wound
care are supplied to customers throughout the world. In
2002 the Getinge Group had net sales of approx. SEK 8.6
billion with 5.600 employees.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
Print this page