Samsung acquires US medical equipment firm

Last Updated: Tue, Jan 29, 2013 10:10 hrs

Seoul, Jan 29 (IANS) Samsung Electronics acquired a US medical equipment company, 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 Tuesday. Terms of the deal were not disclosed, reported Xinhua.

The US 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) by 2020 into five 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.

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