Mochida Pharmaceutical Co Ltd, Tokyo, Japan and Siemens K.K., Tokyo, Japan, have agreed to change the ownership interest both companies hold in their joint venture, Mochida Siemens Medical Systems Co Ltd.
Mochida has transferred 16% of its outstanding shares to Siemens, making Siemens a 51% equity stakeholder. The share transfer means Mochida Siemens Medical Systems Co will become a fully consolidated subsidiary of Siemens, and an equity-consolidated affiliate of Mochida.
Mochida Siemens Medical Systems has steadily expanded its business in the diagnostic ultrasound market in Japan since its formation in 2004, especially in the obstetrics and gynecology market where it holds a significant market share. The company plans to parlay its international management structure and comprehensive product and applications portfolio into an expanded position in the cardiovascular and internal medicine markets, addressing health issues in Japan across the spectrum of ultrasound solutions.