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.
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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