Samsung, the South Korean consumer electronics giant, expects its medical device sales will hit the $500 million mark this year. As Reuters reports, that's a substantial jump from $300 million in sales booked during 2012, an increase made possible by acquisitions. The company acquired diagnostic ultrasound company Medison in December 2010 in a deal Bloomberg said at the time surpassed $262 million. Samsung has pledged to build a major presence in the medical device and technology space, in large part by snatching up players in the MRI and computed tomography spaces. But Samsung's ultimate sales goal remains much higher: It expects its medical equipment products to reach $10 billion in sales by 2020.
ACQUISITIONS IN MEDICAL SECTOR
Yoon Boo-keun, the president of the Samsung's corporate design centre now oversees the medical equipment business, which was added to the consumer electronics division in 2012. Samsung Electronics acquired a controlling stake in Korean ultrasound equipment firm Medison in 2010 and its affiliate later for around $300 million in total, its biggest ever acquisition in the healthcare industry. Yoon expected medical devices sales would reach $500 million this year, up from $300 million last year, and will grow with the acquisition of companies that make MRI scanners and computed tomography machines. Samsung Electronics has said it plans to spend 1.2 trillion won in the medical equipment business by 2020 to make it a $10 billion operation by then. In the long run, Samsung Electronics aims to become a global healthcare leader, taking on GE, Philips, Hitachi, Toshiba and Siemens.
Source: Medical Sales Jobs
ACQUISITIONS IN MEDICAL SECTOR
Yoon Boo-keun, the president of the Samsung's corporate design centre now oversees the medical equipment business, which was added to the consumer electronics division in 2012. Samsung Electronics acquired a controlling stake in Korean ultrasound equipment firm Medison in 2010 and its affiliate later for around $300 million in total, its biggest ever acquisition in the healthcare industry. Yoon expected medical devices sales would reach $500 million this year, up from $300 million last year, and will grow with the acquisition of companies that make MRI scanners and computed tomography machines. Samsung Electronics has said it plans to spend 1.2 trillion won in the medical equipment business by 2020 to make it a $10 billion operation by then. In the long run, Samsung Electronics aims to become a global healthcare leader, taking on GE, Philips, Hitachi, Toshiba and Siemens.
Source: Medical Sales Jobs
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