Samsung Presence Growing in Medical Device Arena

(Seoul, Korea) is broadening its reach into the medical device arena and currently negotiating with the makers of X-ray machines and Magnetic Resonance Imaging (MRI) scanners. Samsung's Senior Vice President Jo Jae Moon confirms that the company is currently in talks with medical manufacturers.

“We have a lot of companies on our list, and we’ve been contacting most of them,” Moon said. Moon explained that Samsung aims to acquire small, niche technology companies. “We’ll continue to meet them and negotiate,” Moon said. “We have a target to be number one across ultrasound devices, X-rays and MRIs.” The companies Moon is talking to remain undisclosed.

Samsung has made two major acquisitions in the industry to date. The largest was Prosonic, a medical ultrasound transducer manufacturer and the second was Medison Co., a diagnostic ultrasound manufacturer. Bae Ki Dal, an analyst at Shinhan Investment Corp. in Seoul, explained, “Demand for expensive medical equipment will keep growing,” Dal said. “The market is mostly dominated by foreign companies now. It will be interesting to see how Samsung will compete with them.”

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