Siemens Medical Solutions Wins Defense Contract Worth Up To $1.8 Bln

(RTTNews) - Siemens Medical Solutions Inc., a unit of German conglomerate Siemens AG (SI), has won a contract valued at up to $1.80 billion from the U.S. Department of Defense.

The Defense Department said that Malvern, Pennsylvania-based Siemens Medical Solutions has been awarded a $1.80 billion contract to provide radiology systems, subsystems, accessories, service, and repair and parts to the U.S. military. This is a fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity contract.

According to the DoD, the Defense Logistics Agency Troop Support in Philadelphia, Pennsylvania, is exercising the fifth option period on a one-year base contract with seven one-year options. The latest option for the contract runs through March 30, 2015.

The contract will enable the U.S. Army, Navy, Air Force, Marine Corps and federal civilian agencies to order equipment as needed. The location of performance is Pennsylvania with a performance completion date of March 30, 2015.

SI closed Wednesday's trading at $134.00, down $0.76 or 0.56 percent on a volume of 360,941 shares.