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MarketScreener Homepage  >  Equities  >  Xetra  >  Siemens Healthineers AG    SHL   DE000SHL1006

SIEMENS HEALTHINEERS AG

(SHL)
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Siemens Healthineers : invests in the growth market India and drives digitalization of healthcare by setting up an innovation hub in Bengaluru

10/22/2020 | 07:30am EST

The company's most significant investment in India of EUR 160 million over the next 5 years.

Furthering its enduring commitment to India, Siemens Healthineers plans to hire additional 1,800 skilled digital tech experts to expand its digital capabilities in the next 10 years

The innovation hub will be housed in a new campus that will combine R&D and manufacturing to make India a center of competence for the design and development of entry-level products

To advance the digitalization of healthcare and better serve the needs of emerging markets, Siemens Healthineers today announced plans to invest EUR 160 million over the next five years in an innovation hub in Bengaluru, India. The innovation hub will be housed in a new state-of-the-art campus that combines the existing R&D center and an ultra-modern medical imaging factory. To expand its digital capabilities, the company plans to add up to 1,800 digital talents in the next ten years. The investment is part of Siemens Healthineers' strategy 2025, in which India plays an important role as a growth market for the company.

'This investment is the largest we have ever made in India. It will play a key role in taking our business to the next level by driving digitalization and expanding our portfolio for emerging markets. The innovation hub in Bengaluru will demonstrate our commitment to advance healthcare through cutting-edge digital technologies as well as through accessible and affordable innovations driven from India,' said Elisabeth Staudinger, President Asia Pacific, Siemens Healthineers.

The investment aims to make India a manufacturing center for the company's emerging market products. Today, the Bengaluru factory is successfully manufacturing Cios Fit C-arms and Somatom.go CT scanners. These entry-level systems are designed, developed, and made in India and are sold in South-East Asia, Africa, Eastern Europe, and South America. Siemens Healthineers plans to expand its product portfolio to address the challenge of affordability that is specific to these markets.

The Bengaluru campus will be one of four innovation hubs of the company, with other hubs located in the United States, Germany, and China. The innovation hub at Bengaluru will include centers of competence in digital technologies such as data analytics, artificial intelligence, immersive technologies like augmented and virtual reality, user experience, and cybersecurity.

Explaining the Siemens Healthineers innovation hub concept, Peter Schardt, the company's Chief Technology Officer, pointed out that 'The innovation hub in Bengaluru is an integral part of our global network of innovation that will further accelerate our ability to develop effective solutions quickly and with a strong focus on emerging markets, especially in Asia. The Bengaluru innovation hub will assume increased responsibility for customer centric solutions to serve such markets even better. Special focus is on solutions for the digitalization of healthcare, which is the foundation for value-based and patient-centered medicine within the region and across the globe.'

So far, Siemens Healthineers has already invested about EUR 300 million in R&D in the country. With about 50 percent of all the software engineers in Siemens Healthineers, the existing R&D center at Bengaluru plays a strategic role in developing cutting-edge software products and platforms for all three segments of the company - Imaging, Diagnostics, and Advanced Therapies. Only a few months ago, Siemens Healthineers was recognized as one of the top 5 of India's Best Workplaces in Healthcare 2020 and certified as a Great Place to Work by the globally active research and consulting institute Great Place to Work.

When completed in 2025, the first phase of the new campus will include 70,000 square meters of office space for the enlarged R&D center and 5,000 square meters of factory space. To create a modern work environment for the employees and to meet the highest standards in sustainability and energy efficiency, an international architectural competition is planned to bring creativity into the design of the new campus.

Siemens Healthineers AG (listed in Frankfurt, Germany: 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 EUR14.5 billion and adjusted profit of EUR2.5 billion. Further information is available at.

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG 1.23% 113.3 Delayed Quote.-2.78%
SIEMENS HEALTHINEERS AG 0.09% 39.775 Delayed Quote.-7.11%
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Sales 2021 15 506 M 18 793 M 18 793 M
Net income 2021 1 664 M 2 017 M 2 017 M
Net Debt 2021 3 031 M 3 674 M 3 674 M
P/E ratio 2021 25,0x
Yield 2021 2,21%
Capitalization 42 591 M 51 688 M 51 620 M
EV / Sales 2021 2,94x
EV / Sales 2022 2,74x
Nbr of Employees 54 300
Free-Float 20,8%
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Bernhard Montag Chief Executive Officer
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Jochen Schmitz Chief Financial Officer
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