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  1. Home
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  3. Healthcare & Pharmaceuticals
  4. Siemens Healthineers
Siemens Healthineers logo
Healthcare & Pharmaceuticals

Who Owns Siemens Healthineers?

Siemens Healthineers AG (FWB: SHL) is a publicly traded German medical technology company spun off from Siemens AG in March 2018. Siemens AG remains the majority shareholder. Headquartered in Erlangen, Germany, the company employs approximately 74,000 people and operates in more than 180 countries. In FY2025 (ended September 30, 2025), Siemens Healthineers reported revenue of €23.4 billion (+5.9% comparable), adjusted EBIT of €3.855 billion (16.5% margin), and free cash flow of approximately €2.7 billion. The company operates through four segments: Imaging, Diagnostics, Varian (cancer care), and Advanced Therapies. A proposed dividend of €1.00 per share has been announced.

Parent Company

Siemens AG

Founded

2018

Status

Publicly Traded

Headquarters

Erlangen, Germany

Siemens Healthineers Timeline

1847
Siemens AG

Parent company established in Munich, Germany

Company Founded
2018

Siemens Healthineers

Founded by Siemens AG (spin-off)

Founded
premiumpremiumGlobalall-ageshealthcare accessresource preservationdiversity inclusionenvironmental compliancesustainable healthcareOfficial Website

Who Owns Siemens Healthineers?

  • Parent Company: Siemens AG
  • Ownership Type: Acquired
  • Company Type: Publicly Traded
  • Stock Ticker: Frankfurt Stock Exchange: SIE
BrandParent CompanyOwnership Type
Siemens HealthineersSiemens AGAcquired

Where to Buy

Disclosure: We may earn commission from purchases
AmazonSiemens Healthineers on Amazon

History of Siemens Healthineers

  • Founded: 2018
  • Founders: Siemens AG (spin-off)

Siemens Healthineers traces its origins to Siemens's medical technology division, which developed X-ray equipment, imaging systems, and diagnostic devices throughout the 20th century. Siemens entered the medical imaging business in the early 1900s and built expertise in X-ray technology, computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound.

In 2015, Siemens rebranded its healthcare division as "Siemens Healthineers" to create a distinct brand identity for its medical technology business. The name combines "Health" and "Pioneers," reflecting the company's focus on healthcare innovation.

On March 16, 2018, Siemens AG spun off Siemens Healthineers through an IPO on the Frankfurt Stock Exchange. Siemens AG retained approximately 75% of the shares, making it the majority shareholder. The IPO was one of the largest in German history, raising approximately €4.2 billion.

In April 2021, Siemens Healthineers acquired Varian Medical Systems for approximately $16.4 billion, the largest acquisition in Siemens Healthineers' history. Varian is a global leader in cancer care, providing radiation therapy, radiosurgery, and proton therapy solutions. The acquisition significantly expanded Siemens Healthineers' portfolio into oncology.

In FY2025, Siemens Healthineers delivered strong results despite a challenging environment. Revenue grew 5.9% on a comparable basis to €23.4 billion, with Imaging leading the growth at 8.5% comparable. Adjusted EBIT margin improved to 16.5% from 15.7%, despite higher tariffs impacting all segments. The Diagnostics segment showed significant margin improvement, reaching 7.7% from 5.3%, driven by cost reductions from the transformation program.

Beginning with fiscal 2026, Siemens Healthineers will restructure into three segments: Imaging, Precision Therapy, and Diagnostics, consolidating Varian and Advanced Therapies into the Precision Therapy segment.

About Siemens AG

What does Siemens AG own?
Siemens AG operates three industrial business segments: Digital Industries (factory automation and industrial software), Smart Infrastructure (building and grid technology), and Mobility (rail transportation). The company also holds approximately 75% of Siemens Healthineers AG, a separately listed medical technology company, and a minority stake of approximately 17% in Siemens Energy AG. In 2025, Siemens acquired Altair Engineering for approximately $10 billion, adding simulation and AI software capabilities to its Digital Industries segment.

Is Siemens AG publicly traded?
Yes, Siemens AG trades on the Frankfurt Stock Exchange under ticker symbol SIE. The company has no controlling shareholder, with ownership distributed among institutional investors including BlackRock, Vanguard Group, and Deutsche Bank, alongside individual shareholders. The Siemens family no longer holds a significant ownership stake.

What is Siemens' annual revenue?
Siemens reported FY2025 revenue of EUR 78.5 billion for the fiscal year ended September 30, 2025, up from EUR 75.9 billion in FY2024. Net profit was EUR 11.0 billion, up from EUR 9.0 billion in FY2024. The company employed approximately 285,000 people worldwide as of the end of FY2025.

Who is Siemens' CEO?
Roland Busch has served as President and CEO of Siemens AG since February 2021, succeeding Joe Kaeser. Busch has led the company's strategic focus on industrial software, AI, and the convergence of physical and digital industrial systems. Under his leadership, Siemens completed the acquisition of Altair Engineering for approximately $10 billion in 2025.

Who founded Siemens?
Siemens was founded on October 1, 1847, by Werner von Siemens and Johann Georg Halske in Berlin, Germany. Werner von Siemens was a Prussian military officer and inventor who pioneered electrical engineering and built the company into one of Germany's largest industrial enterprises. The company has operated for more than 175 years and relocated its headquarters from Berlin to Munich after World War II.

What is Siemens Healthineers?
Siemens Healthineers AG is a medical technology company that is majority-owned (approximately 75%) by Siemens AG but separately listed on the Frankfurt Stock Exchange under ticker SHL. It provides medical imaging systems (MRI, CT, X-ray), laboratory diagnostics, and advanced therapy equipment. Siemens Healthineers is one of the world's largest medical technology companies with approximately EUR 23.5 billion in FY2025 revenue.

  • Founded: 1847
  • Headquarters: Munich, Germany
  • Company Type: Publicly Traded
  • Stock: Frankfurt Stock Exchange: SIE
  • Revenue: EUR 78.5 billion (FY2025, year ended September 2025)
  • Employees: Approximately 285,000

Visit Siemens AG website

View full company profile for Siemens AG

Where Is Siemens Healthineers Made / Based?

  • Headquarters: Erlangen, Germany
  • Manufacturing / Operations: Germany, United States, Europe, Asia

Siemens Healthineers Categories & Tags

Medical TechnologyHealthcareDiagnosticsImagingSiemensGerman Brand

Siemens Healthineers Sustainability & Ethics

Siemens Healthineers operates under a sustainability framework focused on three pillars: Healthcare Access, Resource Preservation, and Diverse and Engaged Healthineers.

Healthcare Access: The company runs global partnerships to improve healthcare access in underserved communities. In Colombia, nearly 200,000 women have benefited from breast cancer initiatives, with 73% of women with suspected breast cancer able to access biopsies as of October 2024. In 2025, new breast cancer programs were launched in Kumasi, Ghana, and Tbilisi, Georgia.

Resource Preservation: Siemens Healthineers achieved half of its sustainability targets ahead of schedule by fiscal 2024. The company focuses on reducing environmental impact across operations and supply chain, including energy efficiency in manufacturing and product lifecycle management.

Diversity and Inclusion: The company aims to increase the proportion of women in senior management positions to 26%. As of FY2023, 25% of senior management positions were held by women.

Environmental Compliance: Beginning FY2025, Siemens Healthineers' sustainability reporting complies with the EU's Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS).

Awards & Recognition

  • Frost & Sullivan 2025 Company of the Year Award: Received the 2025 North America Company of the Year Award for Excellence in Advanced Visualization Applications
  • Berkeley Haas Best Case Award 2025: Received for its digital transformation journey case study
  • Siemens Inventor of the Year 2024: Thirteen inventors recognized, with AI playing a role in over half of the winning solutions
  • DAX Inclusion: Siemens Healthineers is included in the DAX index of Germany's 40 largest publicly traded companies
  • Sustainability Leadership: Achieved half of sustainability targets ahead of schedule by FY2024

Siemens Healthineers Recalls & Controversies

Magnetom MRI Class 1 Recall (October 2025): The US FDA announced a Class 1 recall affecting nine types of Siemens Healthineers MRI systems from the Magnetom series. The recall was prompted by an error message related to magnet supervision and heater power above the alarm threshold. Siemens notified consignees on August 28, 2025, instructing customers not to reboot affected systems but to contact Siemens Customer Service Organization. Class 1 is the FDA's most serious recall type, indicating potential for serious injury or death.

3 Tesla MRI Systems Correction: The FDA issued a safety alert regarding Siemens Healthineers' correction for 3 Tesla MRI systems, addressing potential issues with the magnet supervision system that could lead to overheating.

Varian Integration Challenges: Following the $16.4 billion acquisition of Varian in 2021, Siemens Healthineers faced integration challenges combining two large organizations with different cultures and product portfolios.

Diagnostics Transformation: The Diagnostics segment has undergone a multi-year transformation program involving restructuring and cost reductions, which has included workforce adjustments and facility consolidations.

China Market Volatility: The Diagnostics segment has faced revenue challenges in China due to centralized volume-based public procurement policies that have depressed pricing.

Brands Owned by Siemens AG

Siemens EnergyEnergy Utilities

Siemens Energy

Owned by Siemens AG

German energy technology company providing power generation, transmission, and renewable energy solutions, owned by Siemens AG.

energypower-generationrenewable-energy
Siemens Financial ServicesFinance Fintech

Siemens Financial Services

Owned by Siemens AG

Financial services company providing equipment financing, leasing, and asset management solutions, owned by Siemens AG.

financial-servicesleasingequipment-financing
Siemens MobilityTransportation Logistics

Siemens Mobility

Owned by Siemens AG

German transportation and rail technology company providing trains, rail systems, and mobility solutions, owned by Siemens AG.

railtrainstransportation
View all brands owned by Siemens AG

Siemens Healthineers Ownership: Pros & Cons

Advantages

  • +FY2025 revenue of €23.4 billion with 5.9% comparable growth, led by Imaging
  • +Adjusted EBIT margin improved to 16.5% from 15.7%, despite tariff headwinds
  • +Equipment book-to-bill ratio of 1.14, indicating strong future demand
  • +Diagnostics transformation program delivering significant margin improvement (7.7% from 5.3%)
  • +Varian acquisition creating strong position in cancer care market
  • +Free cash flow of ~€2.7 billion, clearly above prior year
  • +FY2026 outlook: 5-6% comparable revenue growth

Considerations

  • -Higher tariffs impacted all segments in FY2025
  • -China revenue volatility due to centralized volume-based public procurement in Diagnostics
  • -Planned deconsolidation by Siemens AG may create strategic uncertainty
  • -Competition from GE HealthCare, Philips, and Hologic
  • -Regulatory complexity across 180+ countries
  • -MRI system Class 1 recall in October 2025 (Magnetom series)

Frequently Asked Questions About Siemens Healthineers

Sources & Further Reading

  • Siemens Healthineers Official Website -
  • Siemens Healthineers FY2025 Q4 Results (November 5, 2025) -
  • Siemens Healthineers Annual Report 2025 -
  • Siemens AG FY2025 Q4 Earnings Release -
  • Siemens AG Combined Management Report FY2025 -
  • Siemens AG Corporate Website -
  • Frankfurt Stock Exchange: Siemens Healthineers (SHL) -
  • FDA MRI Recall Alert -
  • Frost & Sullivan Award Announcement -

Competitors to Siemens Healthineers

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

BrandParent CompanyCountryFoundedMarket PositionPrimary MarketGender Target
GE HealthCareGE HealthCare
Ge Healthcare
USA
1994
PremiumGlobalAll-ages
Siemens EnergySiemens EnergySister Brand
Siemens
Germany
2020
PremiumGlobalAll-ages
Siemens Financial ServicesSiemens Financial ServicesSister Brand
Siemens
Germany
1982
PremiumGlobalAll-ages
Siemens MobilitySiemens MobilitySister Brand
Siemens
Germany
2018
PremiumGlobalAll-ages

Learn More About Competitors

GE HealthCareHealthcare Pharmaceuticals

GE HealthCare

Owned by GE HealthCare Technologies Inc.

Independent publicly traded healthcare technology company spun off from General Electric in January 2023, providing medical imaging, diagnostics, and healthcare IT solutions globally.

healthcare-technologymedical-imagingdiagnostics
Siemens EnergyEnergy Utilities

Siemens Energy

Owned by Siemens AG

German energy technology company providing power generation, transmission, and renewable energy solutions, owned by Siemens AG.

energypower-generationrenewable-energy
Siemens Financial ServicesFinance Fintech

Siemens Financial Services

Owned by Siemens AG

Financial services company providing equipment financing, leasing, and asset management solutions, owned by Siemens AG.

financial-servicesleasingequipment-financing
Siemens MobilityTransportation Logistics

Siemens Mobility

Owned by Siemens AG

German transportation and rail technology company providing trains, rail systems, and mobility solutions, owned by Siemens AG.

railtrainstransportation

Competitive Analysis

Market Positioning: Siemens Healthineers competes with 4 brands in the same categories, ranging from mass market to luxury positioning.

Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.

Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.

Independent Alternatives to Siemens Healthineers

Looking for brands with different ownership structures? These similar brands are not owned by Siemens AG, giving you alternative choices that support different corporate structures.

GE HealthCareHealthcare Pharmaceuticals

GE HealthCare

Owned by GE HealthCare Technologies Inc.

Independent publicly traded healthcare technology company spun off from General Electric in January 2023, providing medical imaging, diagnostics, and healthcare IT solutions globally.

healthcare-technologymedical-imagingdiagnostics
Publicly Traded

GE HealthCare operates independently without a large parent corporation.

PfizerHealthcare Pharmaceuticals

Pfizer

Owned by Pfizer Inc.

American multinational pharmaceutical corporation developing and manufacturing medicines, vaccines, and consumer healthcare products, one of the world's largest pharmaceutical companies.

pharmaceuticalvaccinesmedicines
Publicly Traded

Pfizer operates independently without a large parent corporation.

PhilipsHealthcare Pharmaceuticals

Philips

Owned by Koninklijke Philips N.V.

Health technology brand owned by Koninklijke Philips N.V., a publicly traded Dutch company listed on Euronext Amsterdam (PHIA). Covers medical imaging, patient monitoring, and personal health products.

healthcare-technologyelectronicsmedical-devices
Publicly Traded

Philips operates independently without a large parent corporation.

TirosintHealthcare Pharmaceuticals

Tirosint

Owned by IBSA Institut Biochimique S.A.

IBSA Institut Biochimique SA's branded levothyroxine softgel capsule (Tirosint) and liquid solution (Tirosint-SOL), FDA approved for hypothyroidism, formulated without dyes, gluten, lactose, alcohol, or sugar, providing an excipient-free alternative to conventional levothyroxine tablets for patients with sensitivities or absorption issues.

levothyroxinehypothyroidismthyroid
Privately Owned

Tirosint is privately owned, unlike Siemens Healthineers which is under a publicly traded parent company.

AlconHealthcare Pharmaceuticals

Alcon

Owned by Alcon Inc.

Independent publicly traded global eye care company headquartered in Geneva, Switzerland, specializing in surgical equipment, contact lenses, and ophthalmic products. Spun off from Novartis in April 2019.

eye-carecontact-lensesophthalmic
Publicly Traded

Alcon operates independently without a large parent corporation.

HerbalifeHealthcare Pharmaceuticals

Herbalife

Owned by Herbalife Ltd.

Global nutrition and weight-management brand owned by Herbalife Ltd. and sold through independent distributors in more than 90 markets.

nutritiondietary-supplementsweight-management
Publicly Traded

Herbalife operates independently without a large parent corporation.

Siemens AG Stock Information

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Last reviewed: August 15, 2026 · Reviewed by Who Brands Editorial Team