Siemens Healthineers - Digital Transformation Strategies

Siemens Healthineers - Digital Transformation Strategies

Summary

This report provides insight into Siemens Healthineers' digital strategies, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Siemens Healthineers AG (Siemens Healthineers), a subsidiary of Siemens AG, is a medical technology company that designs, develops, produces, and distributes diagnostic imaging systems, clinical and workflow systems and solutions, and systems for minimally invasive procedures. Siemens Healthineers serves healthcare providers including clinics, laboratories, hospitals and hospital systems, physicians, public health agencies, universities, state-run and private health insurers, pharmaceutical companies, and clinical research institutes. The company operates in Europe, the Americas, the Middle East, Africa, and Asia-Pacific.

Established in 2008, Innovation Think Tank (ITT) Program nurtures and assists in building innovative ideas by providing a collaborative program for researchers, students, and universities. The ITT program leverages the global network of partners, cultural and age diversity, and multi-disciplinary knowledge to solve business problems by providing necessary resources and free work environment that contributes to creation of disruptive solutions. It mainly organizes international competitions that award fellowships to potential candidates creating solutions in the areas of strategy, engineering, customer engagement, and organizational development. ITT supports participants in market intelligence, technology scouting, product definition, product design, 3D modeling, visualization, and prototyping.

Established in 2001, STA (Siemens Technology Accelerator) develops innovative technologies and transforms them into sustainable business opportunities by founding startup companies or by licensing those technologies to other companies. For creating new startups, STA is responsible for identification of technologies that have market potential, recruitment of core team, build a viable business plan, connecting the startup with its network of partners and investors, and designing legal terms.

Siemens Healthineers operates a R&D center for product lifecycle management of diagnostic products developed by its manufacturing facility in Gujarat, India opened in August 2018. The facility offers integrated, standardized, and connected POC solutions for healthcare providers. The R&D center focuses on developing devices that address the cause of chronic disorders and critical illnesses in patients with lesser waiting time. The manufacturing facility also serves as a Center of Excellence for developing technical skills of its staff in South Asia region in areas like POC testing, diagnostic imaging, and laboratory diagnostics.

In 2020, Siemens Healthineers launched Innovation Hub in Bengaluru, India. The company plans to invest EUR160 million ($181.1 million) over the next five years as a part of its Strategy 2025. In addition, it plans to hire over 1,800 digital talents over the next ten years. Data analytics, artificial intelligence, immersive technologies like augmented and virtual reality, user experience, and cybersecurity will be part of the Bengaluru hub.

Scope

• Siemens Healthineers operates cloud-based digital platforms that assist partner healthcare providers in delivering innovative healthcare solutions through efficient handling of big data.
• In March 2020, Siemens Healthineers launched Teamplay digital health platform powered by AI, to facilitate low-cost care for patients, with intention of enabling digital transformation across the healthcare sector. The digital platform allows healthcare providers to collaborate with experts and patients and provide value-based healthcare services, optimize internal workflows, and improve their precision medicine offerings.
• Siemens Healthineers’ Digital Ecosystem, a collaborative platform for developers and healthcare providers helps build digital healthcare solutions. The Digital Ecosystem is built on Microsoft Azure cloud platform that enables healthcare providers to optimize the performance of their clinical facilities/laboratories through Teamplay cloud.
• Siemens Heathineers leverages AI-capable healthcare solution to cater healthcare professionals with value-based medicine amid coronavirus pandemic. The CT Pneumonia Analysis prototype available on team digital team play is deigned to help healthcare providers in analyzing severity and abnormalities in patients exhibiting COVID-19 symptoms and further diagnosis and therapy planning.
• In 2016, Siemens Healthineers launched its ten-year growth strategy plan through 2025. The company is currently in upgrading phase and is transforming into a digital infrastructure company with focus on data, digital, and AI solutions that would enable it to support the New Growth phase (third and final phase of 2025 strategy).
• Siemens Healthineers is implementing robust cybersecurity practices to safeguard its infrastructure and operations due to spike in cyber-attacks amid COVID-19 pandemic. The company launched a new cybersecurity analytics lab in its headquarters. The cyber test range is designed to function remotely and focuses on testing of emerging cybersecurity technologies for enhanced prevention, discovery, and response.

Reasons to Buy

• Gain insights into Siemens Healthineers' tech operations.
• Gain insights into its digital strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships, and acquisition strategies.