Siemens and Diagnostic Products Corporation has announced that it has entered into a merger agreement under which Siemens will acquire DPC for approximately $1.86 billion.



Diagnostic Products Corporation

(DPC) have announced that they have entered into a merger agreement under which Siemens will acquire DPC for approximately $1.86 billion.

DPC is a global immunodiagnostics solutions company with a presence in more than 100 countries. It develops, manufactures and distributes automated body fluid analysers and tests, such as those related to cancer and cardiac disease, as well as hormone and allergy conditions.

In the merger, each shareholder of DPC will receive $58.50 in cash per share, and DPC will become a wholly owned subsidiary of Siemens Medical Solutions USA. The completion of the merger is subject to approval by DPC’s shareholders, receipt of regulatory approvals and other customary closing conditions. The parties anticipate that the shareholders’ meeting will be held in mid 2006. The board of Directors of each company have approved the agreement.

Through this acquisition, Siemens Medical Solutions said it intends to expand its existing healthcare solutions portfolio and further the company’s objective to enable early and specific diagnosis and individualised patient therapy. Siemens currently provides solutions for both in-vivo and in-vitro diagnostics and supplies expertise and technologies in diagnostic imaging, healthcare information technology, molecular biology and biochemistry for healthcare. The company said the acquisition of DPC is a major milestone in the development of integrated, clinical workflow-oriented solutions that will improve the quality while increasing the efficiency of patient care.

Founded in 1971, DPC’s diagnostic tests supply information for the detection and management of disease, including adrenal/pituitary dysfunction, allergy, anaemia, bone metabolism disturbances, cancer, cardiovascular disease, diabetes and reproductive and thyroid disorders.