Siemens Medical Engineering Group of Erlangen, Germany has completed its acquisition of ultrasound vendor Acuson, Siemens announced today. Siemens acquired Mountain View, CA-based Acuson in a transaction valued at approximately $700 million.
The purchase comes on the heels of the group's acquisition of information technology company Shared Medical Systems (SMS) earlier this year. Siemens believes that ultrasound technology has a promising future, and estimates the industry's annual growth at about 6%. Combined with the company's estimates of a potential 10% growth rate in the information technology market that SMS supplies, both acquisitions are expected to strengthen the company's competitive position, Siemens said.
Siemens has appointed John Pavlidis as the new CEO of Acuson. Pavlidis also leads Siemens' U.S. ultrasound division. Acuson's founder, Samuel Maslak, will continue to serve Acuson in an advisory role, Siemens said.
By AuntMinnie.com staff writers
November 10, 2000
Related Reading
Siemens/Acuson deal clears regulatory hurdle, November 3, 2000
Siemens expands ultrasound efforts with bid to acquire Acuson, September 7, 2000
Siemens-SMS merger gets German OK, June 30, 2000
Siemens inks deal to buy IT firm Shared Medical Systems, May 1, 2000
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