October 1, 2007 - Mochida Pharmaceutical Co. Ltd. and Siemens K.K. Japan have agreed to change the ownership interest both companies hold in their joint venture Mochida Siemens Medical Systems Co. Ltd., due to the fact that the collaboration has steadily expanded its business in the diagnostic ultrasound market in Japan, especially in the obstetrics and gynecology market where it holds a significant market share.
Today, Mochida Pharmaceutical transferred 16 percent of its outstanding shares to Siemens K.K., making Siemens K.K. a 51 percent equity stakeholder. Mochida Siemens Medical Systems Co. Ltd. will become a fully consolidated subsidiary of Siemens and an equity-consolidated affiliate of Mochida Pharmaceutical Co. Ltd.
The joint venture's current President and Representative Director, Shuichi Ishii, will retain his position and take on additional responsibilities as the company's Chief Operating Officer (COO). Holger Klotz, currently the Managing Director and CEO of Mobisphere Ltd., a Siemens and NEC Joint Venture, will join the management team as CEO, Chairman and Representative Director.
With the new International management and a comprehensive product and applications portfolio, Siemens-Mochida plans to expand its position in the cardiovascular and internal medicine markets, addressing the health issues in Japan across the entire spectrum of ultrasound solutions.
For more information: www.siemens.com/medical