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Gus Iversen, Editor in Chief | November 12, 2025
Siemens AG announced on Wednesday that is plans to spin off 30% of its $41 billion (35 billion euro) majority stake in Siemens Healthineers, marking a significant step in its ongoing portfolio simplification.
Siemens currently owns approximately 67% of the Erlangen, Germany-based health tech firm. Under the proposed transaction, Siemens AG shareholders would receive shares in Siemens Healthineers through a direct spin-off.
The move is intended to reduce the company's holding in the medical technology subsidiary to a significant minority, ultimately transitioning it into a financial asset over the medium term.
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According to Siemens, the decision follows a strategic review aimed at streamlining operations and allowing both entities to focus on their respective core markets. The Munich-based conglomerate will continue to hold a minority interest in Siemens Healthineers, enabling it to participate in future growth while gaining increased flexibility in capital allocation.
“Today marks the beginning of the next stage of growth for Siemens. By giving up the controlling majority in Siemens Healthineers, we are focusing on a highly synergistic Siemens portfolio,” said Roland Busch, president and chief executive officer of Siemens AG.
CFO Ralf P. Thomas added that the spin-off “increases transparency while reducing complexity for the capital market, and simplifies governance structures.”
Siemens emphasized its commitment to a progressive dividend policy, stating that shareholder returns will remain a priority after the spin-off. The company also reiterated its focus on digital technologies, industrial software, and AI-driven automation as it positions itself as a streamlined technology enterprise.
The plan remains subject to regulatory review and approval from shareholders of both Siemens AG and Siemens Healthineers. If approved, the spin-off is expected to proceed in calendar year 2026, with further details anticipated in early Q2.
An update on the company's broader strategy and performance will be shared during its “Siemens ONE Tech – Strategy & Results” event on Thursday.
Siemens spun off the imaging subsidiary in 2018 but kept an initial 85% stake. It has since gradually cut its holding, selling 2% for around 1.45 billion euros in February.
Henri Primo
Spin off
November 13, 2025 11:39
Siemens Healthineers is having a ROI that's too small for the high ROI expectations of the traditional Siemens AG investors. The ROI in medical technology was always low and the company's expectations for ROI in consulting in medical technology and workflow were always over-optimistic, despite the visible poor outcomes. Many customers still expect consulting as an included service when purchasing capital-intensive imaging equipment.
Expect Siemens AG to further distance themselves from the medical business.
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