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| Lübeck / Erlangen, May 30, 2002 – Dräger (DRW 3) and Siemens plan joint venture in the market for “acute point-of-care solutions”. German-based Dräger Medical and Siemens Medical Solutions (Med) intend to merge into a joint venture their global activities in “acute point-of-care solutions” from emergency care, the OR and anesthesia on to critical care as well as in home care. |
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| As announced by Dr. Wolfgang Reim, CEO of Dräger Medical, Siemens Med will converge with Dräger Medical its entire Electromedical Systems division including patient monitoring, anesthesia, ventilation, and relevant services plus all the worldwide R&D, production, marketing, and operating resources. Siemens will hold 35 percent of the limited-partnership share capital of Dräger Medical AG & Co. KGaA.
The joint venture's aggregate business volume will amount to around €1.2 billion; its workforce will total 6,400, including some 4,800 from Dräger Medical and around 1,600 from Siemens Med.
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| The deal, which is subject to approval by the respective boards and government authorities, will allow customers worldwide to obtain products and integrated solutions from a single source. In the case of cross-departmental solutions for hospitals, the joint venture's sales organization will cooperate with that of Siemens Med. |
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| With sales and service operations in over 100 countries, the venture commands global status, and has its own R&D and production locations in Lübeck, Germany; Solna, Sweden; Best, Netherlands; Telford and Danvers, USA; and Shanghai, China. |
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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