Siemens plans to deconsolidate Siemens Healthineers

Original from: Siemens

Siemens announces its intention to deconsolidate its remaining stake in Siemens Healthineers (currently circa 67 percent). The company plans to transfer 30 percent of Siemens Healthineers shares to Siemens AG shareholders by way of a direct spin-off as preferable option. Thus, Siemens shareholders will benefit directly and receive shares in Siemens Healthineers. At the same time, the deconsolidation will provide potential to unlock long-term value for Siemens shareholders as a more focused technology company with a highly synergistic Siemens portfolio. 

Siemens plans to reduce its stake in Siemens Healthineers to a significant minority to allow greater capital allocation flexibility. Thereby, Siemens also continues to participate in the attractive business of Siemens Healthineers as a minority shareholder. In the medium term it is targeted to reduce the shareholding to a financial asset. Siemens is committed to managing its investment in Siemens Healthineers in a responsible and shareholder-focused manner. Moreover, Siemens reaffirms its commitment to a progressive dividend policy, which will be maintained even after the deconsolidation of Siemens Healthineers. 

“Today marks the beginning of the next stage of growth for Siemens. By giving up the controlling majority in Siemens Healthineers, we are focusing on a highly synergistic Siemens portfolio” said Roland Busch, President and Chief Executive Officer of Siemens AG. “This is a logical next step in executing our strategy of combining the real and the digital worlds, focusing on accelerated profitable growth of our digital businesses, connected and software defined hardware and industrial AI.” 

“Each of the two companies has a strong financial profile offering strategic flexibility to accelerate value creation in their respective core markets through tailored capital allocation – enabling both organizations to operate with greater agility and focus. For Siemens, the deconsolidation gives additional leeway, increases transparency while reducing complexity for the capital market, and simplifies governance structures. At the same time, the way of spin-off is a market-friendly transfer of shares,” said Ralf P. Thomas, Chief Financial Officer of Siemens AG. 

As previously announced, the decision follows a thorough assessment and strategic review of how both companies can best realize their full potential, accelerate their respective transformations, and successfully tap into new areas of growth. This sharpens Siemens’ profile as ONE Tech Company, driving stronger customer focus, faster innovation, and accelerated profitable growth. At the same time, Siemens Healthineers is benefiting from a significantly higher free float, and therefore greater attractiveness for the capital market as a leading pure-play MedTech champion. 

The intended transaction is subject to final regulatory clarifications and approvals by shareholder meetings of both companies, Siemens and Siemens Healthineers. In the coming months, Siemens will continue to work closely with the relevant parties on detailing the structure and timing of the transaction. Further details will be provided in early Q2, calendar year 2026. 

On Thursday, November 13, 2025, Siemens will present at its “Siemens ONE Tech – Strategy & Results” event an update on its business performance, strategy, as well as technology and innovation agenda. 

Source: Siemens plans to deconsolidate Siemens Healthineers