Updated on 23 August 2012
Siemens Healthcare acquires assets of Penrith
Singapore: Siemens Healthcare entered into a definitive agreement to acquire all the assets of Penrith Corporation, a manufacturer of integrated ultrasound imaging systems. Through this acquisition, Siemens will offer new and improved diagnostic capabilities. The deal is expected to close in September 2012.
Mr Jeffrey Bundy, CEO, ultrasound business unit, Siemens Healthcare, said that, "This acquisition uniquely positions Siemens to bring new, meaningful solutions to the ultrasound market and to expand our presence in attractive business segments. Through this acquisition, Siemens is executing its strategic focus, announced via Agenda 2013, on strengthening the Healthcare Sector's innovative power and competitiveness."
Mr Michael G Cannon, president, Penrith Corporation, who upon closing of the transaction will become VP and general manager, point-of-care solutions, Siemens Ultrasound, said that, "We are very pleased to join Siemens Healthcare. Our portfolio and technology competence in the miniaturization of ultrasound devices will strengthen Siemens' ability to develop pioneering technologies and future breakthrough innovations which advance and expand ultrasound's role in medicine - specifically innovations that are tailored to the needs and means of diverse markets."
The Siemens healthcare sector launched 'Agenda 2013' in November 2011, a two-year global initiative to further strengthen the healthcare sector's innovative power and competitiveness. Siemens is looking to implement specific measures in four fields of action, including innovation, competitiveness, regional footprint, and people development.