Move complements last year’s $7.61B acquisitions of Diagnostic Products and Bayer Diagnostics.

Siemens plans to acquire Dade Behring for approximately $7 billion to strengthen its foothold in the clinical laboratory diagnostics market. “Together, Dade Behring and Siemens will become uniquely positioned to offer the broadest and most capable range of clinical diagnostic products and services in the world,” notes Jim Reid-Anderson, Dade Behring’s chairman, president, and CEO.

The value of this transaction is almost equal to the total amount Siemens spent last year to acquire two firms to develop its Medical Solutions business. The company bought Diagnostic Products in April 2006 for about $1.86 billion and Bayer Diagnostics in June 2006 for approximately $5.75 billion.

Thus, the Dade Behring takeover marks Siemens’ aggressive pursuit to become the leader in full-service diagnostics. One of Siemens’ main contenders in this race is GE Healthcare, which recently reported that its planned $8.13-billion acquisition of two Abbott businesses fell through.

Siemens reports that it will pay $77 per common share of Dade Behring’s stock. This price represents a 37.72% premium over its closing value on July 24. Dade Behring opened trading today at $75.10.

Dade Behring realized sales of about $1.7 billion in fiscal year 2006 and an EBIT of $201 million, according to Siemens. The company will add clinical laboratory equipment and integrated solutions for routine chemistry testing, immunodiagnostics, hemostasis testing, and microbiology to Siemens’ portfolio.

Siemens predicts closing this transaction in the second quarter of fiscal year 2008. “The impact of the Dade Behring acquisition on Siemens EPS is expected to be accretive from fiscal year 2010,” according to Peter Loscher, CEO of Siemens.

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