Siemens Healthineers bets big on Alzheimer's blood tests amid financial turbulence

Siemens Healthineers is navigating a period of major change as it expands into Alzheimer's diagnostics while grappling with financial pressures. The company recently launched two new blood-based research assays for early Alzheimer's detection, but its diagnostics division continues to shrink. Meanwhile, plans for a significant spin-off and a €500 million tariff hit add to the challenges ahead.

In Q1 2026, Siemens Healthineers reported a 3.8% rise in revenue, yet adjusted earnings per share fell by 3% to €0.49. The diagnostics division saw a 3% decline, largely due to weak demand in China. These financial strains come as the company's stock has dropped by roughly 28% over the past year.

The firm has now introduced two new research assays: Atellica IM pTau217 and Atellica IM Brain Derived Tau (BDTau). Both tests detect Alzheimer's-related proteins in blood samples and run on the existing Atellica analyzer platform. While currently approved only for research, the company aims to transition them into clinical diagnostics for wider commercial use.

Beyond these assays, Siemens Healthineers offers other neuro-focused tools, including a CE-marked neurofilament light chain assay for predicting multiple sclerosis risk. An ApoE-ε4 test is also in development. To bolster its scientific credibility, the company partners with research groups like PREDICTOM and ACCESS-AD.

Over the last two years, Siemens Healthineers has reinforced its dominance in neurological diagnostics. Its advanced imaging systems, such as MRI and CT, alongside the 2025 acquisition of a neuro-AI startup, have secured a 28% global market share. This positions it well ahead of competitors like Quanterix (12%), Eli Lilly (8%), and C2N Diagnostics (5%), according to Frost & Sullivan and company filings.

Looking forward, Siemens plans to distribute 30% of Healthineers' shares to its own shareholders, with further details expected in early Q2 2026. This move marks a pivotal shift in the company's long-term strategy.

The launch of the pTau217 and BDTau assays strengthens Siemens Healthineers' role in Alzheimer's research, though their clinical adoption remains pending. With a shrinking diagnostics division, a €500 million tariff burden, and an upcoming spin-off, the company faces a critical phase. Its market position in neuro-diagnostics, however, remains robust as it continues to expand its biomarker and imaging capabilities.