In a bid to strengthen its focus on energy and industrial.
Siemens is reportedly considering spinning off its hospital database and information-technology (IT) division for about $1.4bn, in a bid to sharpen its focus on energy and industrial businesses.
The move is anticipated to allow more flexibility and autonomy to its several business units to help them grow and operate efficiently in the event of a recession.
Siemens is not completely moving out of the profitable healthcare business.
Citing undisclosed sources, Bloomberg reported that the German engineering firm is currently assessing options for the business, with the final decision yet to be made.
Under its present CEO Joe Kaeser, the company is already on its way to sell its hearing-aids division while internally separating core operations including the health-care business that builds medical imaging equipment and clinical diagnostic testing kits.
The move, mainly aimed at attaining operational independence, will enable the division to react more readily to market demands and doesn’t lead to a divestment.
Being a major player in the global industrial space, Munich-based Siemens is involved in a range of segments that make products ranging from healthcare devices to consumer electronics, with revenues reaching $103bn in 2013.