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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.
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| In its first full fiscal year 2004, the JV 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.
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| "The EU ’ decision has assured us that we will be able to get the joint venture underway as briskly as possible. We are expanding our portfolio to include monitoring, which is an integral component of our customers’ clinical processes. The expanded portfolio will put Draeger Medical in a better position for developing process-oriented solutions in acute hospital care. These system solutions will assist present and future customers in further lowering process costs while enhancing the quality of care," stated Dr. Wolfgang Reim, CEO of Draeger Medical. |
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| 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. "The JV solidifies Siemens’ position as a solutions provider. Acute care will thus remain an integral part of our business," stated Prof. Dr. Erich R. Reinhardt, CEO of Siemens Medical Solutions. |
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| Draeger and Siemens are pursuing a concerted development goal: the seamless integration of acute care information within the hospital IT network. In cooperation with Siemens and through the use of the Siemens’ software platforms syngo and Soarian as basic architecture, the joint venture will develop, produce and market critical care IT solutions for optional integration into more comprehensive healthcare solutions. In the medium term, by accelerating the already launched innovation initiatives for products and process solutions, the joint venture will have a sustained boost on sales. More information will be available from Draeger at the annual accounts conference in Luebeck and the Analysts’ Conference in Frankfurt, both to be held on May 15, 2003.
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| Draeger Medical is one of the world’s leading manufacturers of medical equipment. As the largest division of Draegerwerk AG, Draeger Medical offers products, integrated systems and services throughout the entire patient care process in all CareAreas™ -Emergency Care, OR/Anesthesia, Critical Care and Home Care. The company employs around 4,900 people worldwide and is represented in over 140 countries. Based on preliminary figures for fiscal year 2002, the company increased its net sales by around 5 percent to reach €848 million (2001: €805.4 million) and nearly doubled its EBIT to €75 million (2001: €39.0 million). Draeger Medical continues to grow faster than the market at a rate of around 9 percent per annum. The company increased its EBIT from €9.1 million in 2000 to €75 million in 2002, marking the first two years of its business turnaround. Draeger Medical provides innovative solutions which are the result of a close dialog with customers, years of experience in the market, and continuous 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 at: www.draeger-medical.com.
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| Siemens Medical Solutions (Med) is one of the world’s largest providers in the healthcare market, producing innovative products, services and complete solutions. The company covers the entire spectrum, from imaging systems for diagnosis and therapy, electromedicine and audiology, to IT solutions aimed at optimizing workflows in hospitals and doctors’ offices and improving efficiency. Part and parcel of the company’s services include taking responsibility for the customer’s data management requirements as an Application Service Provider, and process management, tailored to specific medical conditions, in prevention, healing and care. Med employs around 31,000 people worldwide. In fiscal 2002 (September 30), the company achieved sales of €7.6 billion, with order intake of €8.4 billion. EBIT amounted to €1 billion.
More information at: http://www.siemensmedical.com.
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Draeger Medical:
Claudia Buering, Public Relations
Phone (+49-451) 8 82-1986
claudia.buering@draeger.com
Draegerwerk AG:
Dr. Welf Böttcher, Corporate Communications,
Investor Relations
Phone (+49-451) 8 82-2201
welf.boettcher@draeger.com
Siemens Medical Solutions:
Melanie Schmude, Press Department
Phone: (+49-9131) 84-8335
melanie.schmude@siemens.com |
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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