Siemens, the German electrical-equipment maker, plans to spin off its Siemens Healthineers (formerly Siemens Health Solutions) business, including its 1,000-worker U.S. headquarters in Malvern, into a new, publicly-traded company.
Healthineers, which makes ultrasound, xray, lab and office testing and other medical devices, accounts for almost 20 percent of Siemens' $85 billion in yearly sales -- and 40 percent of its profits."Our products are used in 8 out of 10 U.S. hospitals," says spokeswoman Kimberley Nissen.
Independence will give Healthineers "focus and flexibility in pursuing its growth strategy," Siemens chief executive Joe Kaeser said in a statement Tuesday. No date has been set for the public sale.