2015 med tech R&D budget: $1.293 billion
Change from 2014 budget ($1.370 billion): -6%
Percent of 2015 segment sales ($14.85 billion): 8%
Siemens ($SIE) has focused on healthcare as a way to drive growth amid restructuring. The company’s efforts seem to be paying off, even though it committed less of its budget to R&D in 2015 than it did in 2014.
In May, Siemens Healthcare rebranded to Siemens Healthineers. The new company pledged to expand in therapeutic and molecular diagnostics and also beef up its managed services, consulting and digital services offerings.
Siemens has already delivered on one front by recently snatching up the German startup Neo New Oncology. Neo New Oncology’s liquid biopsy test gives Siemens an entrée into a rapidly growing market, and its genomic diagnostic platform will also help round out Siemens’ portfolio.
Last year, Siemens launched its Xprecia Stride Coagulation Analyzer, which helps doctors see if warfarin is working for patients with heart conditions. The company talked up the product’s advantages, calling it “safer, more efficient and more ergonomically friendly than the products available today,” David Stein, CEO of Siemens Diagnostics Point of Care Business Unit, said at the time.
Siemens has also focused on its bread-and-butter imaging business to drive growth. The company celebrated some good news earlier this year after the FDA cleared two of its software applications, Simultaneous Multi-Slice (SMS) and GoBrain, to reduce time for brain MRIs.
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