Siemens acquires assets of U.S. ultrasound equipment manufacturer

Acquisition expands Siemens' ultrasound portfolio and opens up new business segments

(PresseBox) ( Erlangen, Germany, )
Siemens Healthcare announced that the company has entered into a definitive agreement to acquire substantially all of the assets of Penrith Corporation. The manufacturer of integrated ultrasound imaging systems is located in Plymouth Meeting, Pennsylvania, USA. Through this acquisition, Siemens will offer new and improved diagnostic capabilities. The deal is expected to close in September 2012.

"This acquisition uniquely positions Siemens to bring new, meaningful solutions to the ultrasound market and to expand our presence in attractive business segments," said Jeffrey Bundy, CEO of the Siemens Healthcare Ultrasound Business Unit. "Through this acquisition, Siemens is executing its strategic focus, announced via Agenda 2013, on strengthening the Healthcare Sector's innovative power and competitiveness."

"We are very pleased to join Siemens Healthcare," said Michael G. Cannon, President of Penrith Corporation, who upon closing of the transaction will become Siemens Ultrasound's Vice President and General Manager, Point-of-Care Solutions. "Our portfolio and technology competence in the miniaturization of ultrasound devices will strengthen Siemens' ability to develop pioneering technologies and future breakthrough innovations which advance and expand ultrasound's role in medicine - specifically innovations that are tailored to the needs and means of diverse markets."

Launched in November 2011 by the Siemens Healthcare Sector, "Agenda 2013" is a two-year global initiative to further strengthen the Healthcare Sector's innovative power and competitiveness. Specific measures will be implemented in four fields of action: Innovation, Competitiveness, Regional Footprint, and People Development.
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