Dade Behring Inc

Siemens Completes Tender Offer for Dade Behring, Inc. Successful ...

ERLANGEN, Germany, Nov. 1 /PRNewswire/ -- As the cash tender offer expired at 12:00 midnight on Oct. 31, 2007, Siemens intends to accept all validly tendered shares of U.S.-based laboratory diagnostics company Dade Behring. Siemens expects to close the transaction on or about Nov. 6, 2007.

The depositary for the tender offer advised Siemens that as of the expiration of the tender offer, an aggregate of approximately 72,989,428 shares of common stock of Dade Behring had been validly tendered and not withdrawn which, together with approximately 2,663,344 shares to be tendered under guaranteed delivery procedures, represents approximately 94 percent of the outstanding common stock of Dade Behring. After closing, Dade Behring will be integrated in the existing business of Siemens Medical Solutions Diagnostics, a wholly owned subsidiary of Siemens Medical Solutions USA, Inc.

"Becoming the leader in the laboratory diagnostics market enables Siemens to offer its customers a comprehensive portfolio of innovative solutions across the whole healthcare continuum - from prevention to diagnosis, to therapy and care," said Erich R. Reinhardt, member of the Managing Board of Siemens AG and president and CEO of Siemens Medical Solutions (Med). "There is no other company that can bring together the entire medical imaging, laboratory diagnostics and clinical IT value chain under one roof. Siemens alone can offer opportunities for the integration of such a comprehensive range of technology, workflows and information that will help our customers deliver an improved quality of patient care at reduced costs."

Reinhardt further explained, "With its strong position in the field of clinical chemistry, Dade Behring complements our existing laboratory business. Plus, its unique, fully integrated IT platforms for combining chemistry and immunodiagnostics dramatically improve laboratory workflow, supporting Siemens' commitment to partner with its customers to deliver increased efficiency throughout the healthcare enterprise."

"Diagnostic testing plays a critical role in providing high quality health care. Together with Dade Behring, Siemens Medical Solutions Diagnostics is well-positioned to lead the way in bringing new capabilities to the diagnostics industry," said Jim Reid-Anderson, currently Chairman, President and CEO of Dade Behring. Mr. Reid-Anderson will lead the Siemens Medical Solutions Diagnostics global business that has nearly 15.000 employees. Jochen Schmitz will remain Chief Financial Officer (CFO). Primary offices of the company will be located in Deerfield, Illinois - the current headquarters of Dade Behring.

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