Siemens Healthineers to Spin Off Diagnostics Unit
Siemens Healthineers has started carving out its diagnostics business to rebrand as Olyrian Diagnostics by mid-2028. The unit faces ongoing weakness in China, prompting a slower fiscal 2027 growth forecast and turnaround efforts.
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SIEMENS HEALTHINEERS AG will carve out its diagnostics unit and rebrand it as Olyrian Diagnostics ahead of a divestment by mid-2028. The division accounts for 17% of group revenue and performs 16 billion tests annually. The separation comes as the medical technology company faces persistent weakness in China following healthcare reforms.
