Nov 5 – German medical technology company Siemens Healthineers said on Thursday it had begun carving out its diagnostics business, which it plans to rebrand as Olyrian Diagnostics ahead of a future divestment.
The company said the separation process had started and was expected to be completed by mid-2028.
Siemens Healthineers had previously said the separation could take around two years and indicated the business might no longer form part of the group by 2030.
Olyrian Diagnostics will remain part of Siemens Healthineers during the transition period. The business produces more than 16 billion diagnostic tests annually. It also accounts for approximately 20% of Healthineers’ workforce and generates 17% of its total revenue.
The company, which is renaming itself “Healthineers,” said a separate name and brand would help position the unit as a standalone business during the transition.
(Reporting by Kira Britten and Paolo Laudani in Gdansk; Editing by Matt Scuffham)