Siemens AG (SI) Siemens AG Capital Markets Day - Healthcare Call February 14, 2012 05:00 pm ET Executives Mariel von Drathen - Head, IR Hermann Requardt - Member of the Siemens Managing Board, Healthcare CEO Michael Sen - Healthcare, CFO Tom Miller - CEO, Customer Solutions Michael Reitermann - CEO, Diagnostics Norbert Gaus - CEO, Clinical Products Bernd Montag - CEO, Imaging and Therapy Systems John Glaser - CEO, Health Services Analysts Peter Reilly - Deutsche Bank Ben Uglow - Morgan Stanley Andreas Willi - JPMorgan Olivier Esnou - Exane BNP Paribas James Moore - Redburn Gael de Bray - Societe Generale Will Mackie - Berenberg Bank Andrew Carter - Royal Bank of Canada Fredric Stahl - UBS Daniela Costa - Goldman Sachs Timm Schulze-Melander - JPMorgan PresentationMariel von Drathen
Good morning ladies and gentlemen. I would like to welcome you here in London and the ones that are watching through the webcast to Siemens Capital Market Day on its sector healthcare. We last spoke to you in detail on healthcare in September 2009. A year later in October 2010, the sector realigned its divisional structure as it stands today. Hermann Requardt, the CEO of healthcare and Member of the Siemens Managing Board will present his divisional CEOs at the beginning of this presentation. In addition for your reference, we prepared brief biographies that you will find on the section 8 of your handouts that you should all have in front of you. In recent years, healthcare has shown a resilient business performance and continuously delivered strong results. The challenges emerged from a changing market environment with increasing cost pressure in healthcare systems of many developed countries and significant investments in the buildup of healthcare infrastructure in emerging countries.