Siemens Healthineers Announces Acquisition of Fast Track Diagnostics

  • Fast Track Diagnostics’ (FTD) broad range of CE-marked infectious disease detection tests and syndromic panels 1 expands the Siemens Healthineers molecular diagnostics portfolio
  • FTD’s kits can distinguish between multiple infections through a single test

Category:

Friday, December 15, 2017 4:00 am EST

Dateline:

BERKELEY, Calif.

Public Company Information:

NQB:
SIEGY
"By integrating the high-quality and cost effective solutions of Fast Track Diagnostics into our own cutting-edge molecular diagnostics portfolio, Siemens Healthineers continues to strengthen and expand its presence in the field of molecular testing and precision medicine"

BERKELEY, Calif.--(BUSINESS WIRE)--Siemens Healthineers has signed an agreement to acquire Luxembourg-based Fast Track Diagnostics (FTD), a global supplier of diagnostics tests that, unlike a clinical examination alone, can distinguish between viral, bacterial, or other infections in one test. By introducing FTD products to its molecular diagnostics portfolio, Siemens Healthineers is further investing in precision medicine and better patient experience through solutions that eliminate the need for repeat diagnostic testing, reducing time and improving patient outcomes.

The acquisition of FTD increases the menu of the Siemens Healthineers VERSANT® kPCR Molecular System1 by over 80 assays and syndromic panels, transforming care delivery for its customers with a comprehensive solution for molecular testing of infectious diseases. In addition, FTD’s platform-agnostic menu allows Siemens Healthineers to effectively serve a broader customer base.

“By integrating the high-quality and cost effective solutions of Fast Track Diagnostics into our own cutting-edge molecular diagnostics portfolio, Siemens Healthineers continues to strengthen and expand its presence in the field of molecular testing and precision medicine,” says Fernando Beils, Head of Molecular Diagnostics, Siemens Healthineers. “We are excited to introduce both FTD’s products and world-class team to the Siemens Healthineers family.”

FTD’s tests are real-time Polymerase Chain Reaction (PCR) kits, allowing for both singleplex and syndromic testing. PCR is a technique used to amplify nucleic acids ( RNA and DNA) in laboratory samples, allowing clinicians to diagnose infections with just a small sample from patients. The tests target conditions such as respiratory infections, gastroenteritis, meningitis, hepatitis, infections of the immunosuppressed, tropical diseases, sexually transmitted diseases, and early childhood diseases, and can detect over 140 viruses, bacteria, parasites, and fungi. By consolidating testing for the infectious disease spectrum into a single molecular ecosystem and virtually open platform, Siemens Healthineers ensures leading-edge performance from extraction through detection, as well as increased workflow efficiency for molecular labs of all sizes.

“Combining FTD’s wide range of assays with the Siemens Healthineers portfolio means great things for all of our customers globally,” says Bill Carman, CEO of Fast Track Diagnostics. “In merging our efforts, we’re enabling healthcare providers to meet their current challenges and deliver better outcomes for patients.”

“In addressing the evolving needs of our customers and the molecular testing market, we enable them to provide more efficient and more effective care for their patients,” confirms Dr. David Stein, Head of Strategy & Innovation, Siemens Healthineers. “This exciting step forward, alongside our newest team members from FTD, is the latest example of our ongoing commitment to our molecular diagnostics customers and their patients.”

Through the acquisition, Siemens Healthineers will now include FTD’s sites in Luxembourg, Malta, and India, as well as its workforce of about 80 employees. FTD will continue to operate under the brand name Fast Track Diagnostics throughout the world.

This press release is available at: http://www.siemens.com/press/PR2017120115HCEN

1The products/features (mentioned herein) are not commercially available in all countries. Product availability may vary from country to country and is subject to varying regulatory requirements. Please contact your local representative for availability. Please contact your local Siemens Healthineers organization for further details.

Siemens Healthineers is the separately managed healthcare business of Siemens AG enabling healthcare providers worldwide to achieve better outcomes at lower costs by empowering them on their journey towards expanding precision medicine, transforming care delivery, improving patient experience and digitalizing healthcare. A leader in medical technology, Siemens Healthineers is constantly innovating its portfolio of products and services in its core areas of diagnostic and therapeutic imaging and in laboratory diagnostics and molecular medicine. Siemens Healthineers is also actively developing its digital health services and enterprise services.

In fiscal 2017, which ended on September 30, 2017, Siemens Healthineers generated revenue of €13.8 billion and profit of €2.5 billion and has about 48,000 employees worldwide. Further information is available at www.siemens.com/healthineers.

Contact:

Siemens Healthineers
Theresa Gombar, +1 610-448-6370
Theresa.Gombar@siemens-healthineers.com