Siemens AG Wins $1.9 Billion Pentagon Medical Systems Contract

Published: Mar 29, 2013

The Pentagon awarded German industrial giant Siemens (NYSE: SI ) a mammoth $1.9-billion contract Wednesday in its fourth option-year extension of a contract originally awarded back in 2009 ... and back when its estimated "maximum" value was supposed to be $267 million. The contract in question, designated a fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity (IDIQ) contract, covers the purchase of up to an additional $1,871,764,738 worth of "radiology systems, subsystems, accessories, service, manual, and repair/parts" for use at Army, Navy, Air Force, and Marine Corps locations, as well as by unspecified "federal civilian agencies." The fourth option year expires March 30, 2014.

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