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| Luebeck / Erlangen, April 30, 2003 – Luebeck-based Draegerwerk AG and Erlangen-based Siemens Medical Solutions today received approval from the EU Commission for the proposed joint venture in the market for acute hospital care, subject to the following conditions: As announced in early March, Siemens shall sell its Life Support Systems unit (anesthesia and ventilation devices) to a third party. Also, in line with current corporate strategy, the joint venture shall continue to supply open data interfaces to enable integration of its products and devices with those of third parties. |
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Draeger contributes its entire Medical division and Siemens its Patient Care Systems (patient monitoring) - the unit, which in conjunction with Life Support Systems, makes up Siemens’ Electromedical Systems Division. The joint venture, Draeger Medical – A Draeger and Siemens Company, will be headquartered in Luebeck and named Draeger Medical AG & Co. KGaA. Its worldwide workforce totals around 5,700. The joint venture is held at 65 percent by Draeger and at 35 percent by Siemens.
In its first full fiscal year 2004, the joint venture is expected to generate sales of over €1.1 billion. As to the current fiscal period, Draeger Medical is forecasting that the joint venture will deliver double-digit sales growth compared with the preceding year (fiscal and calendar years coinciding). In place of the operating business, proceeds from the disposal of Life Support Systems less transaction costs and taxes, will accrue to the joint venture. R&D and production are located at Luebeck, Germany, Best, Netherlands, Telford und Danvers, USA, as well as Shanghai, China. The new company has sales and service subsidiaries in over 40 countries and is represented in more than 190.
The new company will offer its customers products and integrated complete solutions from a single source, from emergency care via OR/anesthesia to critical care, and home care products. Moreover, the joint venture's sales organization will work closely together with that of Siemens, especially in developing cross-departmental solutions for hospitals and in supporting key accounts. Draeger and Siemens are pursuing a concerted development goal: the seamless integration of acute care information within the hospital's IT network.
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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