Samsung Medison aiming to become leading devicemaker by 2020

South Korea's Medison and Samsung Electronics have announced a new corporate identity of Samsung Medison, which is aiming to become one of the world's leading medical device companies by 2020, according to a release. The company also has launched the new corporate vision of 'New Vision into Life' and announced its goal of becoming one of the world's top four diagnostic ultrasound firms.  

"With a launch of the new corporate name, Samsung Medison, we will put customer satisfaction at the top of our priority list by providing the very best in quality and service, in line with Samsung's global image," explains Sang-Won Bang, CEO of Samsung Medison, in a release. "We will dramatically increase our investment in research and development, and will do our best to promote human health and happiness by securing the best in scientific and human resources in the medical device industry."

Medison, which was founded in 1985, is Korea's leading diagnostic ultrasound company. It is now selling medical devices in 110 countries, with some 85 percent of its sales coming from outside of Korea, according to a company release. Samsung agreed to buy a majority stake in the medical equipment maker in December. The deal was reportedly worth more than $262 million, Bloomberg reported at the time. The news service said the buy demonstrates the Korean company may be back on the acquisition trail to take on rivals--including General Electric--and diversifying away from its core businesses of electronic components, mobile phone handsets and televisions.

Samsung has been busy recently in the healthcare arena. Back in February, the company said it will put $260 million into a joint venture with Quintiles, aiming to make generic drugs by the first half of 2013 and biosimilars by 2016. And last summer, the company introduced an ultra-fast blood-testing device.

- get the Samsung Medison release

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