Samsung buys medical company

2013-01-29 09:40
Samsung forecast earlier this month that it expected to earn a quarterly profit of $8.3 bn on strong sales of its Galaxy handsets as well as solid demand for flat screens used in mobile devices. (Picture: AP)

Samsung forecast earlier this month that it expected to earn a quarterly profit of $8.3 bn on strong sales of its Galaxy handsets as well as solid demand for flat screens used in mobile devices. (Picture: AP)

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Seoul – South Korea's Samsung Electronics said on Tuesday it had bought US medical imaging firm NeuroLogica, as it seeks to explore new growth sources by expanding into the health sector.

Samsung did not disclose the value of the deal but said it had bought a full stake in the Massachusetts-based firm, which makes medical devices including CT scanners.

"Samsung plans to leverage its global brand awareness and world-leading technology in consumer electronics, IT and communications with NeuroLogica in order to expand medical imaging business," the company said in a statement.

Samsung Electronics, the world's top maker of smartphones, memory chips and flat-screen TVs, is the flagship unit of the Samsung group.

The group in 2010 vowed to spend $20bn over the following 10 years on five "new growth" areas including light-emitting diode technology, medical devices, biotech drugs, electric-vehicle batteries and solar panels.

- SAPA
Read more on:    samsung  |  technology
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