Siemens has completed its acquisition of Diagnostic Products Corporation (DPC), marking another forward step for Siemens as it enters the in-vitro diagnostics (IVD) market. Together with DPC, Siemens Medical Solutions will become the first full service diagnostics company.
DPC shareholders approved the merger of DPC as a wholly owned subsidiary of Siemens Medical Solutions Inc. In the merger, each share of DPC common stock was converted into the right to receive a cash payment of $58.50 per share.
Founded in 1971, DPC specializes in immunodiagnostics, focusing on developing, manufacturing, and distributing automated body fluid analyzers and tests, such as those related to cancer and cardiac disease, as well as hormone and allergy conditions.
This acquisition is in suit with Siemens’ other steps towards a dominance in the in-vitro diagnostics market—on June 29, 2006, Siemens announced its intent to acquire Bayer Healthcare’s Diagnostics Division (subject to regulatory approvals).
Once the acquisition of Bayer Diagnostics is complete, Siemens will offer solutions in immunodiagnostics, genetic testing, near-patient testing, clinical chemistry, lab automation, hematology (blood cell diagnostics), and beyond. Siemens will bridge the gap between in-vivo and in-vitro diagnostics and offer a unique blend of expertise and technologies in diagnostic imaging, health care information technology (IT), molecular biology, and biochemistry to its customers, driving and leading the advancement of personalized health care.