Samsung acquires U.S. medical equipment firm for future growth

Samsung acquires U.S. medical equipment firm for future growthSeoul, Jan 29 : Samsung Electronics acquired a U. S. medical equipment firm, confirming the world''s biggest technology firm is stepping up efforts to nurture medical equipment business as new growth engine.

Samsung Electronics America took over NeuroLogica, a leading computed tomography (CT) firm headquartered in Danvers, Massachusetts, the company said in a statement on Tuesday. Terms of the deal were not disclosed.

The U. S. firm develops medical imaging products and is known for its portable CT scanners. "The acquisition of NeuroLogica is another important step in the expansion of Samsung''s medical imaging business and is a testament to our shared vision for a better and more complete healthcare experience," said Tod Pike, senior vice president at Samsung''s enterprise business division.

The move is the latest evidence that the world''s No. 1 maker of smartphones and memory chips is accelerating its efforts to diversify revenue sources and foster new growth engines. After acquiring Medison, South Korea''s top ultrasonic medical equipment maker, in March 2011, Samsung took over the California-based medical equipment manufacturer Nexus in November of the same year.

In 2012, Samsung announced its plan to inject 23.3 trillion won (21.5 billion U. S. dollars) by 2020 into 5 new growth businesses, including medical equipment, biomedicine, solar cell, vehicle battery and light-emitting diode (LED). Samsung depends on its mobile business for more than 60 percent of operating profit. (ANI)


Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate

Popular Stories

Sufi legend Begum Yaman passes away at 52

New Delhi [India], Apr 28 : Famous sufi singer and... Read More

No farmer committed suicide over drought: TN Govt. to SC

New Delhi [India], Apr. 28 : In a development bound... Read More

Never took studies as 'burden', says JEE 2017 topper

Udaipur (Rajsthan) [India], Apr 28 : Kalpit Veerwal... Read More

Narada sting: ED files case against TMC leaders

New Delhi [India], Apr. 28 : After the Central... Read More

UP STF raids petrol pumps, eight caught using cheating chip

Lucknow (Uttar Pradesh), April 28 : The special... Read More

UP school issues bizarre diktat: Yogi haircut

Meerut (Uttar Pradesh) [India], Apr 28 : In a... Read More