Siemens Healthcare has announced that the company will change its name to Siemens Healthineers, according to a statement on the company’s website, which called the rebranding “unique and bold.”

“The new brand underlines Siemens Healthcare’s pioneering spirit and its engineering expertise in the healthcare industry,” the announcement says.

Bernd Montag, Siemens CEO, noted, “We have an exceptional track record of engineering and scientific excellence and are consistently at the forefront of developing innovative clinical solutions that enable providers to offer efficient, high quality patient care. Going forward as Siemens Healthineers, we will leverage this expertise to provide a wider range of customized clinical solutions that support our customers’ business holistically.”

He added, “Our new brand is a bold signal for our ambition and expresses our identity as a people company—45,000 employees worldwide who are passionate about empowering healthcare providers to optimally serve their patients.”

The rebranding follows an announcement nearly 2 years ago that the company would separately manage its healthcare business within the larger organization. Siemens will continue to strengthen its medical imaging and laboratory diagnostics business while investing in new offerings in managed services, consulting and digital services, and therapeutic and molecular diagnostics.

The legal names of the business entities will remain unchanged.