Siemens Healthcare to be merged with Siemens Ltd

MUMBAI: Industry and infrastructure solutions provider, Siemens Ltd, today announced the merger of Siemens Healthcare Diagnostics (SHDL) with itself.

The appointed date of the proposed merger would be October 1, 2009, the company said in a statement here.

The Board of Directors has considered the share exchange ratio, jointly determined by independent valuers -- Deloitte Touche Tohmatsu India and ICICI Securities, the statement said.

The share swap ratio would be two equity shares of the face value of Rs 2 each, fully paid-up of Siemens Ltd for every one equity share of the face value of Rs 10 fully paid-up of SHDL.

"With this merger, we will be able to strengthen our healthcare portfolio and make Siemens one of the leading integrated healthcare companies to provide in-vitro and in-vivo diagnostic solutions in the Indian market," Siemens Ltd Managing Director Armin Bruck said.

The merger of SHDL with Siemens Ltd is subject to requisite approvals, the statement said.

SHDL focuses on immuno-diagnostics and the clinical chemistry business, with a significant presence in critical care, haematology, microbiology and plasma protein.

Germany-based Siemens in India operates in the core business areas of industry, energy and healthcare.