Samsung snatches up CT scanner maker NeuroLogica

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.

- read the release

Related Articles:
Samsung med device sales spiked in 2012
Sony and Samsung head for medtech dust-up
Samsung Medison aiming to become leading devicemaker by 2020
NeuroLogica, Stryker enter BodyTom pact
Medical imaging company NeuroLogica grabs $12M in funding

Suggested Articles

Coronavirus may not require a front-line battle yet in certain places, but it’s still taxing public health officials preparing for a potential crisis.

Cybernet Manufacturing, maker of medical-grade computer monitors, has unveiled a new, large touchscreen designed to protect against infections.

A startup has raised $12 million to fund its real-time system for monitoring patients undergoing dialysis at home and calling in complications.