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| Lübeck / Erlangen, Nov. 15, 2002.- Today Dräger Medical and Siemens Medical Solu-tions ("Siemens Med"), Erlangen, executed their joint venture agreement. The due diligence by Lübeck-based Drägerwerk AG and Berlin and Munich-based Siemens AG has been completed. Siemens will acquire a 35-percent equity stake in Dräger Medical AG & Co. KGaA (a partnership limited by shares) and in exchange contribute its Electromedical Systems division.
When the required antitrust clearances have been received, the joint venture will take effect and commence its worldwide operations in the business field Critical Care. The new JV will then have a total business volume of around €1.2 billion and employ some 6,400 people, about 4,800 and 1,600 from Dräger Medical and Siemens Med, respectively. The decisions on the approval under antitrust and cartel legislation are expected in the course of the first half year of 2003.
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Dräger Medical AG & Co. KGaA is one of the world’s leading manufacturers of medical equipment. As the largest division of Drägerwerk AG, Dräger Medical offers integrated systems and services throughout the entire patient care process in clinical acute care and the home care sector. Dräger Medical employs around 4,800 people worldwide and is represented in over 100 countries. Over the past six years, the company continually boosted its sales by more than 10% a year, reaching a total of €805 million in fiscal 2001. The company quadrupled its EBIT from €9.1 million in 2000 to €39.0 million in 2001. The innovative concepts of Dräger Medical are the result of a close dialog with customers, years of experience in the market, and significant investment in R&D. The company’s goal is to improve the quality of patient care while supporting cost-reduction in the health care sector.
More information:
www.draeger-medical.com
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Siemens Medical Solutions (Med) is one of the largest suppliers of healthcare equipment in the world. Med is renowned for its innovative products, services and complete solutions, ranging from imaging systems for diagnosis and therapy equipment for treatment, to electromedicine and hearing instruments to IT solutions that optimize workflow and increase efficiency in hospitals, clinics and doctors’ offices. Siemens also offers a variety of data management solutions for customers and is currently the largest Application Service Provider. Employing approximately 31,000 people worldwide, preliminary figures for fiscal 2002 include sales of 7.6 billion EUR, orders of 8.4 billion EUR and EBITA of 1 billion EUR.
More information can be obtained through the Company’s website
www.siemensmedical.com |
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Drägerwerk AG
Corporate Communications / Investor Relations
Dr. Welf Böttcher
Tel.: +49-451/882-22 01
welf.boettcher@draeger.com
Dräger Medical AG & Co. KGaA
Public Relations
Claudia Büring
Tel.: +49-451/882-1986
claudia.buering@draeger.com
Siemens Medical Solutions
Press Office
Melanie Schmude
Tel.: +49-9131/84-83 35
melanie.schmude@siemens.com
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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