- Published on 15 May 2014
Siemens AG has announced that it is preparing to publicly list its audiology business on the Stock Market, ‘in order to give the business an opportunity to better leverage its potential outside the company’ the press release states. The statement was issued prior to a press and analyst conference on 7th May in which the CEO of Siemens spoke about the company’s strategic realignment. The long anticipated corporate overhaul, called Vision 2020, will see Siemens AG restructured into nine divisions, its healthcare unit managed separately, and its hearing aids business publicly listed. The measures are part of a new strategy formally unveiled at the firm's historic "Siemensstadt" site in Berlin by Chief Executive Joe Kaeser, who took the reins of the company last summer.
Whilst it is anticipated that the hearing aid market will grow by an average of four percent per year to the year 2020, the Siemens statement says, ‘the audiology business has a special position within the company. Both its technology and its consumer-orientated market access limit synergy potentials with other Siemens businesses. In addition, anticipated technology developments at Siemens Audiology differ greatly from those of the company and its healthcare activities. This applies particularly to growth fields like implants and the link to consumer electronics.’
Trevor Andrews, Managing Director of Siemens Hearing Instruments in the UK explained that Siemens AG will retain a stake the business and the new company will retain the use of the Siemens brand name and access to the wide patent portfolio that exists. “This is a substantial opportunity for our customers and business partners,” Andrews said in a letter to UK hearing care professionals. “Though we’ve been an important contributor to the success of Siemens, we can better realise our full industry potential outside of Siemens.” Later in his statement, Andrews says, “I hope that you, our business partner, share my excitement for Siemens’ decision to publicly list Siemens Audiology,” and he concludes, “We are confident that we will be able to serve you better upon completion of our listing.”
Siemens, active in the audiology field for more than 100 years, has more than 4,000 employees and a worldwide presence, with key locations in Singapore, Erlangen (Germany), Piscataway (US), Kanagawa (Japan), Crawley (UK) and Saint Denis (France).Source: Siemens