Siemens to Close Fast Track Diagnostics Business

This product portfolio is sold mainly in the European market. The demand for the Fast Track Diagnostics portfolio has declined significantly since the peak of the COVID-19 pandemic.

Siemens offers in vitro diagnostic test solutions for almost every clinical environment. Its central laboratory analyzers are utilized in research laboratories, clinical laboratories of local community hospitals, independent specialty laboratories, and in the world’s largest reference labs. The company’s point-of-care testing solutions support care everywhere from remote pop-up health clinics to community physician offices, and outpatient care facilities to patients’ bedsides in hospital units.

Siemens has differentiated its in vitro diagnostic test offerings with flexible, scalable, and integrated automation capabilities that improve control over laboratory testing and operational workflows. Fast Track Diagnostics is a minor player in the molecular diagnostics space and represents a very small part of the overall revenue of Siemens’ Diagnostics business. Siemens intends to close the Fast Track Diagnostics unit by September 2024.

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