Siemens has announced plans to ‘deconsolidate’ its remaining stake in Siemens Healthineers by transferring 30% of shares to Siemens shareholders.
Siemens, whose stake had stood at 67%, will hand the shares over via a direct spin-off as ‘preferable option’.
Deciding to deconsolidate the Healthineers business follows a thorough assessment and strategic review of how both companies can best realise their full potential, accelerate their respective transformations, and successfully tap into new areas of growth, according to Siemens.
Once complete, Siemens anticipates that itself and Siemens Healthineers will be well-positioned to operate with “greater agility and focus”.
The action will also give “additional leeway” and increase transparency while “reducing complexity” for the capital market and simplifying governance structures, according to Siemens’ president and CEO Roland Busch.
Busch continued: “By giving up the controlling majority in Siemens Healthineers, we are focusing on a highly synergistic Siemens portfolio.
“This is a logical next step in executing our strategy of combining the real and the digital worlds, focusing on accelerated profitable growth of our digital businesses, connected and software defined hardware and industrial AI.”
Commenting on the development, Charlie Whelan, senior director of consulting for medical devices at GlobalData, highlighted that the net result will be that Siemens Healthineers will be operating as “much more as its own, stand-alone company” from Siemens moving forward.
Siemens deconsolidation plans come as somewhat of a surprise, given the subsidiary’s strong performance in recent years. Healthineers recently announced EBIT of ‘just under’ €3.9bn in its fiscal year 2025 (FY25). Looking to 2026, the company said it expected revenue growth of 5%-6% versus FY25.
The intended transaction is subject to final regulatory clarifications and approvals by shareholder meetings of both companies. Siemens said that over the coming months, it will continue working closely with the relevant parties on detailing the structure and timing of the transaction, with further details to be provided in Q2 2026.
The high risk associated with a healthcare company along with high regulatory costs may be some of the potential reasons behind Siemens’ plans that effectively take it out of the healthcare space, according to Andrew S Thompson, director of therapy research and analysis for medical devices at GlobalData.
Following last week’s announcement by Siemens, Siemens Healthineers said on 17 November that it is mulling an exit from its diagnostics division over the medium term, although there have been no talks with any suitors as yet.
