India: Siemens to sell healthcare business to German parent for $455m

Sunil Mathur, MD and CEO, Siemens. Photo: Abhijit Bhatlekar/Mint

Engineering firm Siemens Ltd on Friday announced the sale and transfer of its healthcare business to a subsidiary of its parent Siemens AG for Rs 3,050 crore.

The Siemens board of directors approved the sale and transfer of the healthcare undertaking as a going concern on a slump sale basis, after obtaining the requisite regulatory, statutory and shareholder approvals, to Siemens Healthcare Pvt. Ltd.

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