According to reports, Siemens, a German manufacturing giant, is planning to list Healthineers, its medical technology business.
Citing sources, Reuters reported that the said announcement is proposed to take place in March and could value Healthineers at a maximum of €40bn (£35.4bn). An introductory public offering (IPO) is said to occur four weeks later.
According to reports, Siemens is selling around 15 to 25 percent of the company, which offers various services from medical imaging machines including MRI to healthcare IT. However, at the time of writing, the company had not responded to requests for comment.
Healthineers is striving to raise funds via the IPO in order to make takeovers and invest in the sector of healthcare.
In 2017, Siemens announced that it was selling its stake in a Russian joint venture due to violations of Crimean sanctions.
However, the company has also partnered with Rolls-Royce and Airbus to develop a hybrid-electric plane, and merged its rail operations with Alstom of France to produce “a new European champion in the rail industry.”