Siemens Medical Solutions has Signed an Agreement with Bayer Healthcare Diagnostics

Siemens Medical Solutions has signed an agreement with Bayer Healthcare Diagnostics to acquire the chemical and pharmaceutical company's Diagnostics Division. The acquisition will enable Siemens to expand its position in the high-growth molecular diagnostics market. At the end of April, Siemens announced the planned acquisition of Diagnostic Products Corp. in the U.S., a leading company in immunodiagnostics. The purchase price for Bayer HealthCare Diagnostics — which had sales of $1.4 billion and a double-digit profit margin in fiscal 2005 — is roughly €$4.2 billion.