Samsung buys local medical equipment maker

December 14, 2010
The company flag of South Korean titan Samsung Electronics flutters at its head office in Seoul in October 2010. Samsung Electronics, the world's top computer memory chip maker, said Tuesday it has signed a deal to buy a controlling stake in a top South Korean medical equipment maker.

Samsung Electronics, the world's top computer memory chip maker, said Tuesday it has signed a deal to buy a controlling stake in a top South Korean medical equipment maker.

Samsung said the deal was part of its long-term strategic expansion into the business.

It said it would acquire a 43.5 percent stake in Medison from private equity firm Consus Asset Management.

Medison is the world's fifth-largest ultrasound equipment maker, holding an estimated 6.7 percent share of the global market.

Samsung said it would also buy a 100 percent stake in Prosonic, a South Korean manufacturer of probes and cables for ultrasound devices.

It said in a statement the ultrasound diagnostics device segment is a logical entry point into the health care equipment market due to technological similarities with its existing consumer electronics and IT products.

Samsung unveiled a plan earlier this year to invest 23 trillion won (20.1 billion dollars) in new businesses, including renewable energy and health care.

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