Siemens Healthineers intends to close its Fast Track Diagnostics unit by September, saying the decline in testing demand from the peak of the pandemic led to the decision.
About 90 employees, mostly based in Luxembourg, will lose their jobs, according to a statement from the company.
Fast Track Diagnostics was launched in 2006, featuring directors from diagnostics firm Laboratoires Réunis, before being acquired by Siemens’ Healthineers subsidiary in 2017. Notably, Fast Track Diagnostics produced Siemens’ SARS-CoV-2 Assay test kits early in the Covid-19 pandemic. While a strategic point of emphasis for the company for obvious reasons at the time, demand for the product, which Siemens primarily sold in Europe, has fallen and PCR testing is a small part of the company’s overall diagnostics portfolio.
“Fast Track Diagnostics is a minor player in the molecular diagnostics space and represents a very small part of the overall revenue of the Siemens Healthineers Diagnostics business,” said the company in contextualizing the decision.
Evan joined TriMed in 2011, writing primarily for Health Imaging. Prior to diving into medical journalism, Evan worked for the Nine Network of Public Media in St. Louis. He also has worked in public relations and education. Evan studied journalism at the University of Missouri, with an emphasis on broadcast media.