Siemens Healthcare Diagnostics Ltd has been amalgamated with Siemens Ltd and stands dissolved, with effect from March 14, a note from the company said.

Siemens Ltd has issued and allotted 3,134,700 equity shares of Rs 2 each fully paid-up to shareholders of the erstwhile diagnostics arm on March 24, 2011. The entire business and undertaking of SHDL now gets transferred to and in the name of Siemens Ltd, the note added.

This follows orders from High Courts in Mumbai and Gujarat, sanctioning the amalgamation of SHDL with Siemens Ltd, received in late January and early March, respectively.

Both companies have filed a copy of the respective orders with the concerned Registrars of Companies, earlier this month, the note added.

Mr Dhandapany Ragavan, Executive Vice President, Healthcare Sector of Siemens Ltd, said: “With the integration of the laboratory diagnostics arm, Siemens is one of the very few global players in the industry to have a broad spectrum of products in both in-vivo and in in-vitro space. All major healthcare providers need both the laboratory and imaging-based diagnostic facilities, and we will leverage the integrated operations to provide a common interface for their entire diagnostics needs. We will also leverage our country wide presence of distributors, channel partners, service partners and our own sales and service force to increase our foot print even further.”

Further, the statement quoted Dr Armin Bruck, Chief Executive of Siemens, saying: “With this merger, Siemens becomes the first ever integrated company in the Indian healthcare space that offers a complete spectrum of the most advanced and innovative products be it laboratory diagnostics, medical imaging, or healthcare information technology. This will enable clinicians to diagnose disease earlier and more accurately, thus making a significant contribution to improving the quality of healthcare.”

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