Shareholder Vote Set for February 2027

Siemens has confirmed plans to hold a shareholder vote on the direct spin-off of its Siemens Healthineers stake at its annual general meeting in February 2027. The German industrial conglomerate announced on April 17 that both the separation and regulatory clarification processes are well advanced, though final regulatory confirmation remains pending.

Under the plan, Siemens shareholders will receive Siemens Healthineers AG shares directly. Siemens currently holds 67% of Healthineers and intends to transfer 30% of that stake to shareholders, relinquishing its majority position in the subsidiary.

A Strategic Retreat from Medical Technology

Siemens has made clear it no longer views medical technology — including X-ray machines and laboratory systems — as part of its core business. This aligns with the group's broader strategic pivot toward industrial automation, digitalization, and energy transition.

When the multi-billion-euro transaction was first announced in November, Siemens had also considered holding an Extraordinary General Meeting this year for earlier approval, but ultimately deferred to the 2027 annual meeting.

Seven Years After IPO, Full Separation Beckons

Siemens Healthineers was floated on the stock market in 2018, but Siemens retained a majority stake. If approved, the spin-off would effectively complete the subsidiary's independence seven years after its listing.

As one of the top three global medical imaging players alongside Philips and GE HealthCare, an independent Healthineers could gain greater flexibility for M&A activity and autonomous strategy execution.