German technology giant Siemens is considering selling its health IT division, inside sources have told Bloomberg.
The sale would allow Siemens to focus on its energy and industrial businesses. According to Bloomberg, Siemens has been separating the health IT division from the rest of the company over the past couple of years, though the official explanation was to allow the healthcare arm more agility in responding to market changes.
The health IT division was the most profitable of Siemens' four main divisions in 2013. If the sale moves forward, it could be valued at more than $1.4 billion, according to the report.
More Articles on the Health IT Market:
Health IT Tech Hubs Growing in Chicago, Miami
EHR Consulting Firm Cumberland Buys Cipe Consulting, Expands West
Medtronic's $43B Covidien Takeover: 5 Things to Know