Samsung is diving deeper into the medical imaging business. The South Korean consumer electronics giant snatched up NeuroLogica, a Massachusetts maker of portable computed tomography scanners.
As these things often go, neither side disclosed financial terms. But the move helps Samsung play into its strategy to become a leading medical device imaging player by 2020. Samsung took its first major step in this direction in 2010 when it bought diagnostic ultrasound company Medison for a reported $262 million. And more acquisitions in the MRI and computed tomography spaces are likely down the line.
NeuroLogica, based in Danvers, MA, raised $12 million in new funding about a year ago, to help support its BodyTom portable, full body, 32 slice CT scanner designed to be rolled from room to room. The company launched in 2004 and has at least three scanner products that are FDA cleared, ETL approved and CE marked, according to its website.
Samsung, meanwhile, expects its medical device/imaging related sales to hit the $500 million mark this year, up from $300 million last year. Longer term, the company wants its medical equipment product sales to hit the $10 billion sales mark by 2020. Along the way, it will likely face archrival Sony, the Japanese consumer electronics giant, which is also seeking substantial growth in its medical device and technology business.
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