Siemens Healthineers continues its global expansion by expanding its oncology division in Canada. The company has entered into a ten-year partnership with the state-owned Nova Scotia Health, which will generate up to CAD 175 million (EUR 120 million) in revenue for the medical technology company. This is according to a press release from Siemens Healthineers on Thursday. The partnership aims to improve the treatment of cancer patients in the province of Nova Scotia.
Through close collaboration, all steps of cancer therapy, from screening to aftercare, are to be accelerated. This will contribute to making the healthcare system in Nova Scotia more efficient.
The frequency of cancer cases in the Canadian province is alarmingly high and affects one million residents. Given this fact, Nova Scotia Health and Varian began building a "sustainable ecosystem" for cancer care a year ago.
Now this collaboration is being expanded. Varian plans to open a branch in Halifax in the first half of the year, which will employ over 60 employees. Over the next ten years, Varian will additionally invest 50 million Canadian dollars in wages and rent in the region.
This partnership is part of a series of similar agreements that Siemens Healthineers has already entered into with other hospital groups and healthcare providers. However, the focus of these partnerships usually lies in the field of imaging, such as MRI and CT. With the expansion of its oncology division, Siemens Healthineers will also gain importance in this area.
The positive news also influences the stock market. In after-hours trading on the Tradegate exchange, the value of Siemens Healthineers stock rose by 1.21 percent to 51.80 euros. This is a clear indication that investors perceive this strategic partnership as a promising development for the company.
The partnership between Siemens Healthineers and Nova Scotia Health is an impressive example of the company's continuous expansion. It also highlights the importance Siemens Healthineers attaches to improving healthcare worldwide. This partnership is an important step towards the future of oncology treatment in Canada and will undoubtedly garner international attention.
