Siemens Japan acquires majority stake of Mochida Siemens Medical Systems

3 October 2007

Mochida Pharmaceutical Co Ltd and Siemens KK Japan have agreed to change the ownership interest both companies hold in their joint venture Mochida Siemens Medical Systems Co Ltd. Mochida Pharmaceutical has transferred 16% of its outstanding shares to Siemens KK, making Siemens KK a 51% equity stakeholder.

The share transfer means that Mochida Siemens Medical Systems Co., Ltd will become a fully consolidated subsidiary of Siemens and an equity-consolidated affiliate of Mochida Pharmaceutical Co Ltd.

The joint venture’s current President, and Representative Director, Shuichi Ishii, will retain his position and take on additional responsibilities as the company’s Chief Operating Officer (COO). Holger Klotz, currently the Managing Director and CEO of Mobisphere Ltd., a Siemens and NEC Joint Venture, will join the management team as CEO, Chairman and Representative Director.

Since its formation in 2004, the joint venture Mochida Siemens Medical Systems has steadily expanded its business in the diagnostic ultrasound market in Japan, especially in the obstetrics and gynaecology market where it holds a significant market share.

With the new International management and a comprehensive product and applications portfolio, Siemens-Mochida plans to expand its position in the cardiovascular and internal medicine markets, addressing the health issues in Japan across the entire spectrum of ultrasound solutions.

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