Siemens Healthineers to close Fast Track Diagnostics unit

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Siemens Healthineers has announced that it intends to close its Fast Track Diagnostics unit by September 2024.

The unit comprises a portfolio of polymerase chain reaction (PCR) testing products primarily sold in the European Union. In a statement, Siemens said that the unit represents a very small part of the overall revenue of the firm's diagnostics business.

The decision follows a periodic strategic review of market opportunities and portfolio contributions. Demand for tests from the Fast Track portfolio has diminished significantly since the COVID-19 pandemic's peak, the firm added. The portfolio included a range of CE-marked assays for infectious diseases.

The firm's plans for the diagnostics business will focus primarily on centralized laboratory testing, as well as specialty and POC testing. Approximately 90 employees, mostly based in Luxembourg, will be affected by the unit's closure. Siemens noted that it is currently consulting with local employee representatives, and local labor regulations and guidelines will be followed in accordance with standard company practice.

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