Siemens Healthineers To Buy Novartis Diagnostics To Bolster Cancer Scan Business In $220M Deal
Portfolio Pulse from Vandana Singh
Siemens Healthineers is acquiring Novartis' diagnostics arm for $223.5 million to enhance its cancer treatment capabilities, particularly in PET scans. This acquisition will expand Siemens' PET radiopharmaceuticals business into Europe, strengthening its market position. Novartis views the sale as a divestiture of a low-growth segment.
August 26, 2024 | 12:54 pm
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Novartis is selling its diagnostics arm to Siemens Healthineers for $223.5 million, viewing it as a low-growth segment. This divestiture aligns with Novartis' strategy to focus on high-growth areas.
The sale of the diagnostics arm is a strategic move by Novartis to divest from low-growth segments. The impact on Novartis' stock is neutral as the company is focusing on its core high-growth areas.
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