Samsung nurses healthcare sector with huge acquisition

Samsung is playing doctors and nurses.  It announced it has signed an agreement with Consus Asset Management to purchase a stake in diagnostic ultrasound manufacturer Medison.

Under the contract, Samsung will acquire a 43.5 percent stake in this company, as well as 100 percent of Prosonic  a manufacturer of transducer probes and cables for ultrasound devices.

The acquisition is Samsung’s first major foray into healthcare in the company’s history. It will set Samsung back $262 million. However, it may not comes as a surprise to many – back in May, Samsung hinted that it would aim to invest $20 billion in the healthcare business by 2020. It took some baby steps in June when it unveiled a portable blood test kit.

“We aim to combine Medison’s expertise and advanced technology in diagnostics ultrasound devices with Samsung’s resources, global network, design and other technological capabilities to create differentiated medical diagnostic [innovations] for the global market,” said Sangwon Bang, senior vice president and head of the health and medical equipment (HME) business team, at Samsung.

According to Reuters Samsung outbid tobacco company KT&G and SK Holdings in the auction.