Siemens Healthineers announces acquisition of Fast Track Diagnostics

• Acquisition underlines the importance for Siemens Healthineers to invest in the growing market of molecular testing
• With the expansion of its portfolio by Fast Track Diagnostics' molecular diagnostic tests, Siemens Healthineers offers its customers solutions that reduce time in the lab for detection of infections while improving patient outcomes

Siemens Healthineers has signed an agreement to acquire Luxembourg-based Fast Track Diagnostics (FTD), a global supplier of molecular diagnostic tests. The acquisition of FTD underscores the Siemens Healthineers commitment to molecular diagnostics, a designated growth area for the company. Through the acquisition, Siemens Healthineers will now include FTD's sites in Luxembourg, Malta, and India, as well as its workforce of about 80 employees. FTD will continue to operate under the brand name Fast Track Diagnostics throughout the world. The closing of the acquisition is targeted by the end of the year 2017. Terms of the agreement were not disclosed.
Over the past 24 months, Siemens Healthineers has made significant advancements in the delivery of molecular diagnostic applications and services, such as the acquisition of NEO New Oncology last year. By introducing FTD products to its molecular diagnostics portfolio, the company is further investing in precision medicine and better patient experience. The tests target conditions such as respiratory infections, gastroenteritis, meningitis, hepatitis, infections of the immunosuppressed, tropical diseases, sexually transmitted diseases, and early childhood diseases, and can detect over 140 viruses, bacteria, parasites, and fungi.

"By integrating the high-quality and cost effective solutions of Fast Track Diagnostics into our own cutting-edge molecular diagnostics portfolio, Siemens Healthineers continues to strengthen and expand its presence in the field of molecular testing and precision medicine," says Fernando Beils, Head of Molecular Diagnostics, Siemens Healthineers. "We are excited to introduce the world-class team to the Siemens Healthineers family."

"Combining FTD's wide range of assays with the Siemens Healthineers portfolio means great things for all of our customers globally," says Bill Carman, CEO of Fast Track Diagnostics. "In merging our efforts, we're enabling healthcare providers to meet their current challenges and deliver better outcomes for patients."

More information about Fast Track Diagnostics is available at
http://www.fast-trackdiagnostics.com