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Thursday, July 17, 2014

Siemens to sell microbiology unit to US-based Danaher, (NYSE: DHR)

German engineering group Siemens agreed to sell its clinical microbiology business to Beckman Coulter, a subsidiary of Danaher Corp, as part of a restructuring plan designed to improve profitability. Siemens, which did not disclose financial details of the deal, said the move allowed it to focus its healthcare division more on its in-vitro business.

Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. Shares of DHR traded higher by 0.33% or $0.26/share to $78.50. In the past year, the shares have traded as low as $64.78 and as high as $81.14. On average, 2915700 shares of DHR exchange hands on a given day and today's volume is recorded at 2606412.