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Samsung Electronics Acquires U.S. Healthcare Equipment Maker Nexus

SEOUL -(Dow Jones)- 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

Stock News for Itc (ITC)
DateTimeHeadline
09/26/201606:36:55Filing of Certain Prospectuses and Communications in Connection...
09/26/201606:30:00Fortis Inc. and GIC Acquisition of ITC Holdings Corp. Authorized...
09/23/201606:38:15Filing of Certain Prospectuses and Communications in Connection...
09/23/201606:30:00Public Service Commission of Wisconsin Votes to Approve Fortis...
09/20/201616:13:49Statement of Changes in Beneficial Ownership (4)
09/15/201606:34:46Filing of Certain Prospectuses and Communications in Connection...
09/15/201606:30:00Fortis Inc. Acquisition of ITC Holdings Corp. Approved by Missouri...
09/14/201616:15:53Statement of Changes in Beneficial Ownership (4)
09/07/201616:21:02Statement of Changes in Beneficial Ownership (4)
09/01/201616:36:27Current Report Filing (8-k)
08/25/201606:37:06Filing of Certain Prospectuses and Communications in Connection...
08/25/201606:30:00Fortis Inc. Acquisition of ITC Holdings Corp. Approved by Illinois...
08/22/201616:39:10Current Report Filing (8-k)
08/17/201616:30:00ITC Increases Quarterly Dividend Rate by 15 Percent
08/16/201616:37:17Filing of Certain Prospectuses and Communications in Connection...
08/16/201616:31:00Fortis Inc. Acquisition of ITC Holdings Corp. Approved by Oklahoma...
08/12/201607:38:52Filing of Certain Prospectuses and Communications in Connection...
08/12/201607:30:00Fortis Inc. and ITC Holdings Corp. Announce Expiration of Hart-Scott-Rodino...
08/03/201616:14:09Statement of Changes in Beneficial Ownership (4)
07/28/201616:59:41Quarterly Report (10-q)

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