There is plenty of change happening at Siemens Healthineers as the company is now rebranding to Healthineers and carving out its in vitro diagnostics (IVD) business due to weak revenue in China.
Upon its separation from Healthineers, the new IVD business – dubbed Olyrian Diagnostics – will become one of the largest standalone diagnostics companies offering laboratory and point-of-care testing solutions. Within its portfolio are a range of tests that address “nearly every major disease area”, according to Healthineers.
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Olyrian is expected to operate as a standalone organisation by 2028, though will continue to operate within Healthineers’ remit until this time.
Olyrian’s carveout comes a little after Healthineers lowered its revenue growth guidance for fiscal year 2026 (FY26), partly due to waning sales of its diagnostics in China – with the business segment seeing a comparable revenue decline of 5.5% to just under €1bn ($1.1bn) in Q3. This, the company says, is primarily down to a “structural change in the market environment”, which likely refers to the country’s recent healthcare reforms.
Alongside the separation from Olyrian, Healthineers is also hoping to spin off from its original parent company, Siemens – though this move will need to be approved by shareholders for both companies at an annual meeting in February 2027. If successful, the deconsolidation is expected to begin following Healthineers’ debut on the German Commercial Register.
As with the spin-off plans, stakeholders will also need to back the name change to Healthineers at the annual meeting.
Following the potential split, Healthineers plans to follow a three-year brand transition agreement, which will facilitate a smooth transition and allow for the re-registration of products and legal entities.
According to Siemens’ president and CEO, Roland Busch, Healthineers’ separation is the “logical next step” for the business.
“Siemens Healthineers has grown from its Siemens roots into a global leader in its own right. It is only natural that this evolution is reflected clearly in how the company presents itself to the outside world,” Busch said.
“For Siemens, this sharpens our profile as the company that scales AI in the real world. Our unique ability to combine the real and digital worlds makes this possible, accelerating profitable growth,” he added.
According to analysts at GlobalData, the IVD segment will balloon at a compound annual growth rate (CAGR) of 3.1% to reach $60.6bn in value by 2035.
