Samsung further dips toes in healthcare sector

Samsung continues to square up to the pharmaceutical and health care market, having announced the beginning of a partnership with the US‘ Quintiles Transnational.

It wants to get away from just peddling consumer electronics to loyal Korea and the rest of the gadget hungry world. The move with Quintiles will have joint capital of roughly $260 million, according to the Wall Street Journal

Late 2010, Samsung managed to outbid potential investors, including those in the tobacco industry, signing up with Consus Asset Management to buy into diagnostic ultrasound manufacturer Medison. It got a 43.5 percent stake plus all of Prosonic, which makes transducer probes and cables for ultrasound devices.

It was the first movement of Samsung’s into healthcare, where it similarly spent $262 million.

It hopes to continue pushing health investment as it seeks a new way to make dosh off products. Quintiles works in biopharmaceutical services.