Siemens has outlined its intention to deconsolidate its remaining approximately 67% stake in Siemens Healthineers. As part of this plan, the company aims to transfer 30% of Siemens Healthineers shares to Siemens AG shareholders through a direct spin-off, enabling them to directly benefit by receiving shares in the MedTech company. The move is designed to unlock long-term value and further strengthen Siemens’ position as a focused technology company with a tightly synergized portfolio.
Following the spin-off, Siemens plans to retain only a significant minority stake in Siemens Healthineers, providing greater flexibility in capital allocation while still participating in the growth of the MedTech business. Over the medium term, Siemens expects to classify this holding as a purely financial asset. The company also reaffirmed its commitment to a progressive dividend policy, noting that the deconsolidation will not impact its dividend approach.
The transition marks a new phase of growth for Siemens as it sharpens its focus on digital industries, software-defined hardware, and industrial AI. The separation is expected to enhance strategic agility for both Siemens and Siemens Healthineers, improve transparency for the capital markets, reduce structural complexity, and enable more targeted capital allocation. Siemens Healthineers, with an expanded free float, stands to gain increased visibility and attractiveness as a leading pure-play MedTech company.
The planned deconsolidation is subject to regulatory reviews and approval by the shareholders of both companies. Siemens will collaborate closely with all stakeholders in the coming months to define the detailed structure and execution timeline. Additional updates are expected in early Q2 of calendar year 2026.
Siemens will further elaborate on its business performance, strategy, and innovation roadmap at its “Siemens ONE Tech – Strategy & Results” event on November 13, 2025.
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