Siemens Healthineers

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

Key Developments

Date	Approach	Development
November 2018	Product Development	Siemens 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

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