(CityA.M.)– German manufacturing giant Siemens is planning to list its medical technology business Healthineers, according to reports.
The announcement is slated to take place in March, Reuters reported citing sources, and could value Healthineers at up to €40bn (£35.4bn). An initial public offering (IPO) would take place four weeks later.
Siemens is reportedly selling 15 to 25 per cent of the company, which offers services from medical imaging machines such as MRI to healthcare IT, but had not responded to City A.M.’s request for comment at the time of writing.
Healthineers is aiming to raise funds through the IPO to make takeovers and invest in the healthcare sector.
Last year, Siemens announced it was selling its stake in a Russian joint venture over violations of Crimean sanctions.
However it has also teamed up with Airbus and Rolls-Royce to develop a hybrid-electric plane, and merged its rail operations with France’s Alstom to create “a new European champion in the rail industry”.