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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
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02/10/201606:04:56Filing of Certain Prospectuses and Communications in Connection...
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02/09/201616:07:25Filing of Certain Prospectuses and Communications in Connection...
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02/09/201615:20:00Harwood Feffer LLP Announces Investigation of ITC Holdings Corp.
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02/09/201608:04:52Current Report Filing (8-k)
02/09/201608:02:50Additional Proxy Soliciting Materials (definitive) (defa14a)
02/09/201606:00:00Fortis Inc. To Acquire ITC Holdings Corp. For US$11.3 billion

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