The industrial group, which is carving out its healthcare business into an independent entity, said it would manage the majority of the medical imaging equipment for Ontario-based William Osler Health System.

The contract involves procuring, replacing and maintaining equipment for radiology and cardiology including ultrasound and X-ray machines made by Siemens and others.

Healthcare is the most profitable business of turbines-to-trains group Siemens, and accounted for about 18 percent of its sales in the last quarter.

(Reporting by Georgina Prodhan; editing by Jason Neely)