Siemens 2006 Annual Report Download - page 78

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Report of the Supervisory Board
74
At the same meeting, we approved the formation of a legally independent company in the
enterprise networks sector.
At an extraordinary Supervisory Board meeting on June 29, 2006, we approved the acquisition
of Bayer Diagnostics, a world leader in clinical chemistry and No. 1 in near-patient testing, labora-
tory automation and hematology.
The acquisitions of Bayer Diagnostics and DPC will make our Medical Solutions Group (Med)
the world’s first integrated diagnostics company, supplying imaging and laboratory diagnostics as
well as clinical IT solutions across the entire value chain from a single source.
The Supervisory Board received a report on the strategic reorientation of Siemens Business
Services GmbH & Co. OHG (SBS). Plans call for strengthening the Group through the addition of
four Siemens IT and software development companies: Program and System Engineering (PSE)
in Austria, Siemens Information Systems Ltd. (SISL) in India, Development Innovation and Projects
(DIP) in Greece, and the Business Innovation Center (BIC) in Switzerland. Software and solutions
know-how that have been dispersed within the Company will now be bundled and oriented
toward Siemens’ own business activities.
At our September meeting, the Managing Board presented an overview of the Company’s
business strategy for our consideration. Agreement was reached on the following key issues: