Siemens Healthineers to Drop Parent Company's Name in Spinoff, Carve Out Diagnostics Business

04:37 AM EST, 11/05/2026 (MT Newswires) -- Shares in Siemens Healthineers (SHL.F) edged lower on Thursday morning after the medical technology company revealed plans to rebrand to Healthineers as part of its spin-off from German parent Siemens (SIE.F). The rebranding announcement came alongside plans to carve out its in vitro diagnostics business, which will operate as a standalone entity under the name Olyrian Diagnostics. The separation of Siemens Healthineers will allow Siemens to focus on its strategy to boost industrial artificial intelligence, moving away from the medical technology business, the German parent company said Thursday. The spin-off will be subject to shareholders' approval at the annual meetings of both companies in February 2027. "This is the logical next step in a journey we started years ago - and one that has proven hugely successful," Roland Busch, president and chief executive of the parent entity, said. "For Siemens, this sharpens our profile as the company that scales AI in the real world." The name change is also subject to approval at the medical technology company's AGM. The three-year brand transition period will commence in 2027 after the spin-off's entry into the German Commercial Register. The carve-out of the diagnostics business, meanwhile, is expected to be completed by mid-2028. The unit will remain part of Siemens Healthineers during the transition. Separately, Siemens Healthineers reported fiscal 2026 results. Attributable net income for the 12 months ended Sept. 30 rose to 2.21 billion euros from 2.14 billion euros a year earlier, while revenue came in at 23.63 billion euros, compared with 23.38 billion euros.