Growth in nearly all of its businesses propelled Siemens Healthineers to revenue and earnings gains in its fiscal third quarter of 2017. Parent company Siemens also said it now plans to hold an initial public offering (IPO) of the healthcare unit in the first half of 2018.
For its third quarter (end-June 30), Siemens Healthineers had revenues of 3.361 billion euros ($3.95 billion U.S.), up 4% from the 3.23 billion euros ($3.8 billion) reported in the third quarter of 2016. Revenue was up in nearly all businesses -- particularly in diagnostic imaging and advanced therapies, the vendor said. On a regional basis, Asia and Australia produced the highest revenue growth, led by double-digit gains in China.
Siemens Healthineers also noted it had a 2% nominal increase and a 3% currency-comparable increase in orders; the modest growth was driven by the diagnostic imaging business and on a regional basis in the Europe, Africa, and the Middle East region, as well as Asia and Australia.
The company had third-quarter profit of 579 million euros ($680.8 million), up from 534 million euros ($627.9 million). Siemens credited the continued strong earnings performance by the diagnostic imaging business.
The previously announced IPO for Siemens Healthineers is now expected to take place in the first half of 2018. The firm will be valued at up to 40 billion euros ($47 billion), according to a report on CNBC.
