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Siemens Healthineers

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Siemens Healthineers - Healthcare showcase

Year Founded & Workforce

1998

377,000 Employees

Industry

Healthcare

Services

AssaysComputed TomographyRadiography SystemsMagnetic Resonance ImagingImmunoassay Systems
S

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Siemens Healthineers Overview

Company Headquarters:

Founded: 1998

Workforce: 377,000

Company Working: Siemens Healthcare Private Limited is the distinctly managed healthcare business of Siemens AG empowering healthcare providers globally to meet their current challenges and to outperform in their respective environments. Siemens is a leader in medical technology. It is continuously updating its portfolio of products and services in its core areas of diagnostic and therapeutic imaging in laboratory diagnostics and molecular medicine. It is dynamically developing its digital health and enterprise services.

Strategy

Siemens Healthineers focuses on using data systems and artificial intelligence for developing innovative products. Additionally, the company aims to increase its penetration in the in-vivo and in-vitro markets, globally. It also focuses on increasing the number of its next-generation product and platform launches. The company also aims to maintain its market position in the medical imaging equipment industry by launching innovative products, such as computed tomography and magnetic resonance imaging systems.

Company Snapshot

$84,727.7M

Revenue

377,000

Employees

1998

Founded

Founded: 1998

Headquarters

SWOT Analysis

Strengths

  • Innovative products
  • Diverse portfolio
  • Strong brand name
  • A well known pioneer in technology-driven services
  • It has excellence, finance, and stability
  • Has its presence in many industries such as energy, healthcare, infrastructure
  • Strong brand name in the global market

Weaknesses

  • Operational failures and quality issues
  • Ongoing lawsuits
  • Dependent on third party for supplies which might hamper the operational efficiency
  • Corruption charges
  • Operational failures and issues related to quality
  • Ongoing lawsuits against the company
  • Shortage of skilled people

Opportunities

  • Expanding the product portfolio according to the market
  • Mergers & acquisitions
  • Setting up of institutions worldwide for in-house solutions
  • Increase in demand for electricity and related services and products
  • Mergers, acquisitions, equity investments
  • Localizing value chain activities
  • Mergers, acquisitions, and equity investments

Threats

  • Changing competitive landscape
  • Dearth of skilled people
  • Stringent government policies
  • Economic and currency fluctuations might affect the financial performance of the company
  • Changing competitive environment
  • Shortage of skilled people

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Key Developments

DateApproachDevelopment
November 2018Product DevelopmentSiemens Healthineers announced that the US Food and Drug Administration (FDA) had granted a breakthrough device designation for its ELF test. The FDA’s breakthrough devices program is intended to facilitate the development and expedite the review of breakthrough technologies to help patients gain more timely access to solutions that potentially provide for more effective diagnosis for life-threatening diseases.

Product Offering

  • Siemens Healthineers
    • Assays
    • Computed Tomography
    • Radiography Systems
    • Magnetic Resonance Imaging
    • Immunoassay Systems
    • Integrated Chemistry Systems
    • Fast Track Diagnostics Assays

Financial Performance

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales rose from USD 84,727.7 Mn in 2016 to USD 97,929.2 Mn in 2018.
Siemens Healthineers — By Business Segment
Series (USD Mn)201620172018
Sales84,727.789,977.297,929.2
R&D Expenditure4,7325,1646,554.2

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