Siemens Medical Raided by Defense Department Investigators

Criminal investigators with the Defense Department executed a raid Wednesday on Siemens Medical, a division of German-based Siemens AG.

The reason behind the raid at Siemens Medical’s facility at Malvern, near Phillidelphia is not clear, but reports suggest that the investigators were seeking documents related to the company’s military contracts. According to Philly.com, the company recently received a Defense Department contract worth up to $267 million to sell medical-imaging equipment to the military.

Siemens Medical confirmed the raid in a statement, and said only that they will “continue to cooperate fully with the Government’s investigation.”

Siemens Medical Solutions has 49,000 employees world wide and did $17.2 billion in sales in 2007