Siemens 2014 Annual Report Download - page 114

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Our healthcare business achieved very good results overall in the past quarters, an
accomplishment we’re proud of. However, over the long term, we anticipate fun-
damental changes and new business models in healthcare markets and technologies.
With the aim of continuing the success story of Siemens’ medical engineering
activities and of giving them greater freedom and better prospects for the future,
we’ll manage our healthcare business independently within Siemens – as a
company within the Company. Healthcare is not “still” at Siemens or “staying” at
Siemens. Healthcare is part of Siemens.
We’ve paved the way for the sale of our audiology business to the investment
company EQT and Germany’s Strüngmann family of entrepreneurs. Siemens will
remain invested in the hearing aid business with preferred equity and will thus
benefit from the business’s future successes. Not only is the transaction an excellent
move from a financial perspective; we’re also convinced that the new investors
have a clear growth strategy for further developing the hearing aid business over
the long term.
This step is fully in line with our strategy of strengthening our core business and
of divesting activities that yield few or no synergies for the Company.
Looking at my description of our Vision  targets, you’ll have noticed that we’ve
set very ambitious goals. In pursuing these goals, we won’t be able to please
everyone, because the pace in international competition is far too fast. That’s why
we have to set priorities. But our actions will be well-focused, level-headed and
responsible – as can be expected of Siemens.
Culture makes the difference
However, strategy isn’t the only thing that counts here – since a strategy can
be implemented only if it’s based on a strong company culture. At Siemens, this
means an ownership culture. I asked our employees and managers how they’d
describe ownership culture in one word. “Responsibility” was far and away the
most common answer. And that’s precisely the point: we must always bear in mind
that we have a responsibility to pass on a better company to the next generation.
Our foremost maxim must be: always act as if it were your own Company! I’m
convinced that an ownership culture is not only a formula for success at strong,
family-run enterprises but that it will also be the foundation for our success. It’s
this culture that will shape Siemens.