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Siemens Healthineers IPO Targets up to $5.73B

NEW YORK (360Dx) – Siemens said on Sunday that its Healthineers business is expected to raise gross proceeds of between €3.90 billion ($4.80 billion) and €4.65 billion ($5.73 billion) from its initial public offering.

Siemens said it plans to list Siemens Healthineers on the Regulated Market of the Frankfurt Stock Exchange on March 16 at a price per share of €26 to €31. The offering will comprise 150 million registered shares of Siemens Healthineers, consisting of about 130 million base shares and 19.6 million shares to cover any overallotment.

The company announced its plans to spin off Healthineers in January, and last month said that the IPO was planned for the first half of this year.

Deutsche Bank, Goldman Sachs, and JP Morgan are acting as the joint global coordinators in the planned transaction.

Separately, Siemens Healthineers today announced new partners for its Digital Ecosystem, an open and secured environment housing digital offerings from Siemens Healthineers andd other partners based on shared healthcare data. The new partners include Cranberry Peak, which provides its ezCDS application for compliance with mandates from the Protecting Access to Medicare Act and the Medicare Access and CHIP Reauthorization Act of 2015. Xifin, which offers solutions for clinical labs, has also joined the Digital Ecosystem. 

Other new partners include digital health firm Amra Medical; Circle Cardiovascular Imaging; brain imaging tools firm Combinostics; and Precision Image Analysis.  

The Siemens Healthineers Digital Ecosysm is under development and not yet commercially available in the US and other countries, the company said.