Siemens Breaks Ground in Walpole, Mass., Marks Milestone in its Investment Strategy for Healthcare Market Transformation
June 30, 2017
- Groundbreaking will mark a major expansion of one of the company’s key manufacturing and R&D facilities for laboratory diagnostics in Walpole, Mass.
- The $300 million investment exemplifies Siemens’ broader strategy for creating local value in the U.S., Siemens’ largest market
- The global technology company is committed to strengthening the U.S. advanced manufacturing sector, helping to grow local economies and create high-wage jobs
- Siemens Healthineers provides more than 10 billion diagnostic tests globally each year
WALPOLE, Mass.--(BUSINESS WIRE)--Building on $40 billion of U.S. investment over the last 15 years, Siemens today broke ground on a major expansion of a key Siemens Healthineers manufacturing and R&D facility for laboratory diagnostics in Walpole, Mass. that will create up to 700 new high-tech jobs over the next 10 years. Siemens’ $300 million investment in Walpole exemplifies the company’s broader strategy for creating local value in the U.S.—its largest market—by furthering the company’s ability to transform customers’ healthcare operations in order to improve the lives of the patients they serve.
“Healthcare is changing all over the world, and these changes are opening up great opportunities for providers, for patients—and for our company,” said Michael Sen, Member of the Managing Board of Siemens AG and Siemens Healthcare GmbH Supervisory Board Chairman. “Today, we provide more than 10 billion laboratory diagnostics tests each year. Our mission is to extend this reach even further and Walpole will play a major role in this effort. That’s why we’re investing 300 million dollars here—one of the largest single capital investments of Siemens Healthcare in the U.S. ever. We look forward to innovations from here—innovations that will benefit our customers, that will benefit Siemens and, most of all, that will benefit patients.”
Siemens—together with its separately managed healthcare company Siemens Healthineers—is committed to strengthening the advanced manufacturing sector in the U.S., helping to grow local economies and create high-wage jobs, while making innovative products that increase the overall competitiveness of U.S. industries.
“Siemens has been doing business in the United States for more than 160 years. We not only deliver products and solutions to America, but the Walpole expansion demonstrates our passion for making things here, hiring here and working closely with U.S. customers,” said Lisa Davis, Chair and CEO of Siemens Corporation and Member of the Managing Board of Siemens AG. “By investing in advanced manufacturing right here in the U.S., Siemens creates value for customers and communities, produces high-wage jobs, increases exports and creates more orders for local businesses of all sizes.”
Strong manufacturing capabilities provide the backbone for robust innovation and an outstanding pipeline of products that make a difference in both the operations of healthcare providers and the lives of the patients they serve. Siemens Healthineers is uniquely positioned to solve healthcare providers’ system-wide and departmental challenges throughout the patient care journey with its medical technology that offers solutions for disease prevention through diagnosis and treatment. As a result, the company’s products are used in 8 out of 10 U.S. hospitals and in all 15 hospitals on U.S. News & World Report’s 2015-16 Best Hospitals Honor Roll.
“Our administration has reinforced our commitment to life sciences, research and development by investing up to $500 million for strategic investments to support companies in innovation and technology,” said Governor Charlie Baker. “Thanks to companies like Siemens, Massachusetts continues to be a global leader in the industry and we welcome their growth and investment in Walpole to support the global healthcare market.”
As the global healthcare market transforms, healthcare providers continue to be under pressure to improve efficiencies to deliver better outcomes at lower costs.
“Our investment in Walpole expands our global footprint and reflects our long history of innovations that help healthcare providers meet their current and future business challenges,” said Franz Walt, President, Laboratory Diagnostics, Siemens Healthineers. “With this investment, we will expand our capabilities to deliver solutions such as our new Atellica™ portfolio of products to give lab professionals control and simplicity so they can spend less time on operations and more time driving better outcomes.”
Siemens invests more than $1 billion annually in U.S. R&D. The Walpole facility, in turn, is one of Siemens’ 60+ U.S. manufacturing sites that work with more than 36,000 U.S. suppliers. Siemens’ manufacturing sites last year shipped more than $5 billion worth of products around the world, making the company a net-exporter.
* “A Policy Primer on Diagnostics,” AdvaMedDX, June 2011
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Siemens Healthineers is the separately managed healthcare business of Siemens AG enabling healthcare providers worldwide to meet their current challenges and to excel in their respective environments. A leader in medical technology, Siemens Healthineers is constantly innovating its portfolio of products and services in its core areas of diagnostic and therapeutic imaging and in laboratory diagnostics and molecular medicine. Siemens Healthineers is also actively developing its digital health services and enterprise services. To help customers succeed in today’s dynamic healthcare marketplace, Siemens Healthineers is championing new business models that maximize opportunity and minimize risk for healthcare providers. In fiscal 2016, which ended on September 30, 2016, Siemens Healthineers generated revenue of €13.5 billion and profit of over €2.3 billion and has about 46,000 employees worldwide. Further information is available at www.siemens.com/healthineers.
Siemens Corporation is a U.S. subsidiary of Siemens AG, a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. With approximately 351,000 employees in 190 countries, Siemens reported worldwide revenue of $88.1 billion in fiscal 2016. Siemens in the USA reported revenue of $23.7 billion, including $5.4 billion in exports, and employs approximately 50,000 people throughout all 50 states and Puerto Rico.