Although Samsung is knee-deep in a battle against Apple, the electronics giant isn't too busy to push deeper into an altogether different field: medical imaging.
On Tuesday, Samsung announced the acquisition of NeuroLogica, based in Danvers, Mass. The 8-year-old NeuroLogica develops medical imaging products and is perhaps best known for its portable CT scanners, such as BodyTom and CereTom. Financial terms of the deal were not disclosed.
"The acquisition of NeuroLogica is another important step in the expansion of Samsung's medical imaging business," the company said in a statement. "Samsung will continue to strengthen its capabilities and product portfolio to establish itself as a trusted leader in the health and medical equipment industry."
A Better Acquisition
Last year, Samsung was rumored to be considering the purchase of Olympus' healthcare business. But Samsung's then-CEO Gee-Sung Choi shed light on the company's healthcare business strategy when he told Reuters, "We're not interested in what others are already doing very well. Samsung will do what we can do better." Apparently, Samsung considers NeuroLogica a "better" option.
Samsung started pushing harder into the healthcare business two years ago, and in November added Samsung Health & Medical Equipment to the mix. That addition involved unifying Samsung Medison America's personnel into Samsung Electronics America's Enterprise Business Division. The move integrated sales, marketing and service operations.
$400 Billion by 2020
That's in line with Samsung's new motto, "Inspire the World, Create the Future." The 2020 vision reflects Samsung's stated commitment to "inspiring its communities" by leveraging what it sees as its three core strengths: new technology, innovative products and creative solutions. As part of its 2020 vision, Samsung is also committed to promoting new value for its core networks -- industry, partners and employees.
Samsung's 2010 investment in Medison was a key element in Samsung's 2020 vision to explore new avenues of growth, including in the healthcare business domain. Indeed, Samsung said it remains committed to its 2020 vision to explore new avenues of growth in the healthcare business by working in the area of medical imaging diagnosis.
Samsung has mapped out a plan to reach $400 billion in revenue and become one of the world's top five brands by 2020. Samsung has also established three strategic approaches in its management: creativity, partnership and talent.