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MarketScreener Homepage  >  Equities  >  Xetra  >  Siemens Healthineers    SHL   DE000SHL1006


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Siemens Healthineers : closes ECG Management Consultants deal

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11/07/2019 | 06:50am EST
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Siemens Healthineers closes ECG Management Consultants deal

Erlangen, Germany| Nov 07, 2019

  • Another step forward in implementing the 2025 strategy
  • Transaction adds strong consulting capabilities to Enterprise Services business

Siemens Healthineers AG has completed the acquisition of a majority stake in ECG Management Consultants, a leading U.S. healthcare advisory firm, with an effective date of November 1, 2019. The company, with its principal office in San Diego, California, maintains 10 offices throughout the United States and is now part of the global Enterprise Services business of Siemens Healthineers. ECG will continue to operate as a stand-alone unit with independent customer access. The partnership is a further step in the implementation of the 'Siemens Healthineers Strategy 2025' as it addresses the goal to tap into adjacent growth markets.

'With ECG Management Consultants, we're adding a strong partner with an impressive consulting track record to the Siemens Healthineers team.' said Bernd Montag, CEO of Siemens Healthineers AG.

'We are excited to join one of the world's leading medical technology companies and are looking forward to our joint business opportunities that will enhance our ability to add value to our clients.' said Gary Edmiston, ECG Management Consultants CEO, who has been with ECG for 22 years and will continue to lead the business.

Both companies will strongly benefit from the partnership. ECG's strong and wide-ranging expertise in strategic and transformational consulting will enable Siemens Healthineers to address the needs of its customers even more comprehensively, and ECG will be able to build on the deep clinical and medical knowledge of Siemens Healthineers as well as its digital platforms, customer relationships and global network. The well-established customer Value Partnership approach of Siemens Healthineers provides substantial growth opportunities for ECG's core business in healthcare consulting.

Siemens Healthineers AG (listed in Frankfurt, Germany, DE:SHL) is shaping the future of Healthcare. As a leading medical technology company headquartered in Erlangen, Germany, Siemens Healthineers enables healthcare providers worldwide through its regional companies to increase value by empowering them on their journey towards expanding precision medicine, transforming care delivery, improving the patient experience, and digitalizing healthcare. Siemens Healthineers is continuously developing its product and service portfolio, with AI-supported applications and digital offerings that play an increasingly important role in the next generation of medical technology. These new applications will enhance the company's foundation in in-vitro diagnostic, image-guided therapy, and in-vivo diagnostics. Siemens Healthineers also provides a range of services and solutions to enhance healthcare providers ability to provide high-quality, efficient care to patients. In fiscal 2019, which ended on September 30, 2019, Siemens Healthineers, which has approximately 52,000 employees worldwide, generated revenue of €14.5 billion and adjusted profit of €2.5 billion.
Further information is available at www.siemens-healthineers.com.

This document contains statements related to our future business and financial performance and future events or developments involving Siemens Healthineers that may constitute forward-looking statements. These statements may be identified by words such as 'expect', 'forecast', 'anticipate', 'intend', 'plan', 'believe', 'seek', 'estimate', 'will', 'target' or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens Healthineers' management, of which many are beyond Siemens Healthineers' control. As they relate to future events or developments, these statements are subject to a number of risks, uncertainties and factors, including, but not limited to those described in the respective disclosures. Should one or more of these risks, uncertainties or factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Siemens Healthineers may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. All forward-looking statements only speak as of the date when they were made and Siemens Healthineers neither intends, nor assumes any obligation, unless required by law, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

This document includes - in the applicable financial reporting framework not clearly defined - supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures may have limitations as analytical tools and should not be viewed in isolation or as alternatives to measures of Siemens Healthineers' net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its half-year consolidated financial statements and consolidated financial statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently, which may therefore not be comparable.

Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures to which they refer. The information contained in this document is provided as of the date of its publication and is subject to change without notice.


Philipp Grontzki
Siemens Healthcare GmbH
Karlheinz Kaske Straße 5
91052 Erlangen
+49 152 03350194

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Siemens Healthineers AG published this content on 07 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 November 2019 11:49:06 UTC

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