Sunday, May 24, 2015Sunday, May 24, 2015

Samsung buys US medical device start-up

Published on Jan 29, 2013 8:07 AM

SEOUL (REUTERS) - Samsung Electronics Co said on Tuesday that its United States subsidiary had acquired NeuroLogica, a maker of computed tomography (CT) machines, in its latest push into the medical equipment business to take on the likes of General Electric Co and Philips AG.

Samsung Electronics America has fully acquired Massachusetts-based start-up NeuroLogica for an undisclosed amount, the South Korean company said in a statement.

NeuroLogica, which was established in 2004, manufactures portable CT scanners.

The head of Samsung's consumer electronics division had told Reuters earlier this month that the company was seeking to grow its medical device unit by adding Magnetic resonance imaging (MRI) scanners and CT machines, and the company was open to making acquisitions.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!