Siemens Won $1.86 Bil. DPC Deal By Outbidding Two Other Firms
This article was originally published in The Gray Sheet
Executive Summary
Siemens' successful bid to acquire Diagnostic Products Corp. earlier this spring was more than a year in the making, according to a recent DPC merger proxy statement
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People In Brief
Siemens names diagnostics execs: Siemens Medical Solutions appoints Anthony Bihl CEO of its new diagnostics unit following completion of its $5.3 billion acquisition of Bayer's diagnostics business on Jan. 1. Bihl, former president of Bayer Diagnostics, will be assisted by Chief Operating Officer Sid Aroesty, former president and COO of Diagnostic Products Corp., and Chief Financial Officer Jochen Schmitz, who comes to the newly formed subsidiary, called Siemens Medical Solutions Diagnostics, from his CFO post at Siemens' molecular imaging division. Siemens entered the in vitro diagnostics market via a $1.86 billion purchase of Diagnostic Products Corp. last June (1"The Gray Sheet" June 12, 2006, p. 13).... New CEO at Siemens Hearing Instruments: Firm's hearing-aid subsidiary welcomes Christi Pedra as CEO on Jan. 4. The 21-year Siemens veteran, who moves from her position as COO at the Siemens One marketing organization, plans to strengthen customer support and expand the hearing instruments sales force. Pedra replaces William Lankenau, who retired Dec. 31 after 16 years with the company...
People In Brief
Siemens names diagnostics execs: Siemens Medical Solutions appoints Anthony Bihl CEO of its new diagnostics unit following completion of its $5.3 billion acquisition of Bayer's diagnostics business on Jan. 1. Bihl, former president of Bayer Diagnostics, will be assisted by Chief Operating Officer Sid Aroesty, former president and COO of Diagnostic Products Corp., and Chief Financial Officer Jochen Schmitz, who comes to the newly formed subsidiary, called Siemens Medical Solutions Diagnostics, from his CFO post at Siemens' molecular imaging division. Siemens entered the in vitro diagnostics market via a $1.86 billion purchase of Diagnostic Products Corp. last June (1"The Gray Sheet" June 12, 2006, p. 13).... New CEO at Siemens Hearing Instruments: Firm's hearing-aid subsidiary welcomes Christi Pedra as CEO on Jan. 4. The 21-year Siemens veteran, who moves from her position as COO at the Siemens One marketing organization, plans to strengthen customer support and expand the hearing instruments sales force. Pedra replaces William Lankenau, who retired Dec. 31 after 16 years with the company...
Hospira Stock Rebounds In Second Quarter; Index Off 1.5%
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