6. Siemens Healthineers
Erlangen, Germany
2018 revenue: $15,864,322,500 (€13,425,000,000)
R&D spend: $1,513,757,700
Employees: 50,000
Revenues/employee: $317,286
Fiscal year ending: Sept. 30, 2018
Last year’s rank: 7
Key Personnel:
Bernd Montag, CEO; Jochen Schmitz, CFO; Michael Reitermann, president, diagnostics
Description:
Count Siemens Healthineers (SLH:DE)among the medical device companies making big plays in surgical robotics. In August, there was news that the company’s Siemens Medical Solution subsidiary planned to spend $1.1 billion to acquire Corindus Vascular Robotics, maker of the FDA-cleared CorPath GRX Vascular Robotic System. Mark Toland, Corindus’ CEO, said at the time that the deal would combine the company’s precision robotics with Siemens Healthineers’ imaging, digital and artificial intelligence tools. The Siemens Group subsidiary is a major manufacturer of medical imaging systems, including computed tomography, MRI, molecular imaging, X-rays and ultrasound. The company also makes angiography systems, mobile C-arms and hybrid ORs for image-guided therapy — as well as diagnostic testing systems. Other offerings include software and clinical consulting. The company’s R&D efforts have been especially focused on artificial intelligence, according to the Siemens Group’s annual report for fiscal 2018. Company officials think AI could improve the handling of medical information, find hidden patterns and enable better clinical decisions. Revenue and profits were a bit down for Siemens Healthineers for the fiscal year ended Sept. 30, 2018, with company officials blaming “significant negative effects from currency translation.” – CN