A new in-vitro diagnostics production plant will be established in Shanghai, China, thanks to an investment of $428 million (€396.06 million) by Siemens Healthineers, a medical equipment firm with headquarters in Germany and a division of the multinational corporation Siemens.

Following a division of its Asia-Pacific business into two by Siemens Healthineers in October 2022 "to allow both China and the rest of the region to achieve their full potential," the move was made. Jerry Wang, who had previously been in charge of all of Asia, is in charge of the Chinese operations, and Vy Tran, who was formerly Varian's top compliance and quality officer, is in charge of the new Asia-Pacific Japan area.

As a division of the Siemens parent company, Siemens Healthineers has a history dating back to the middle of the eighteenth century. It has also gone by the names Siemens Medical Systems, Siemens Medical Solutions, and Siemens Healthcare. In 2016, it changed its name to Siemens Healthineers, and the 69,500 individuals it employs worldwide work for the firms it owns.

A German manufacturer of medical devices, Siemens Healthineers was originally known as Siemens Healthcare, Siemens Medical Solutions, and Siemens Medical Systems. Its headquarters are in Erlangen, Germany, and it serves as the parent company for a number of medical technology businesses. Werner von Siemens co-founded a tiny family business in Berlin in 1847, which is where the corporation got its start. Siemens owns 75% of Siemens Healthineers. In 2001, Siemens Medical Solutions became official, and in 2008, the name was changed to Siemens Healthcare. Siemens appointed Bernd Montag as its new CEO for the entire world in 2015.