Samsung Electronics Acquires U.S. Healthcare Equipment Maker Nexus
November 15 2011 - 8:23PM
Dow Jones News
Samsung Electronics said Wednesday that it has acquired U.S.
healthcare equipment maker Nexus, as the electronics giant
continues to expand in the healthcare sector following its first
takeover of a medical company last year.
Nexus, a division of ITC Nexus Holding Company, is a provider of
cardiac-testing solutions, which helps in the monitoring of various
cardiovascular diseases, Samsung said in a statement, without
disclosing financial details of the deal.
"This partnership will play a vital role in helping Samsung to
position itself as a global leader in healthcare technology," said
Yong-chu Bang, Vice President of Samsung Electronics' health and
medical equipment business.
In December, the world's largest technology company by revenue
acquired a 43.5% stake in Medison Co., a South Korean medical
equipment maker, for KRW331.4 billion (US$292.2 million).
As part of its long-term plans to develop new engines of growth,
Samsung announced last year that it aims to invest KRW1.2 trillion
through 2020 in the healthcare sector.
The acquisition of Nexus is expected to be completed in the
fourth quarter of 2011, Samsung added.
-By Jung-Ah Lee, Dow Jones Newswires; 822-3700-1907;
jung-ah.lee@dowjones.com
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