Sony's med tech focus creates investor anxiety

It turns out that Sony's ($SNE) bid to expand its focus into medical equipment isn't necessarily well received by investors at the struggling Japanese consumer electronic giant. After losing money on TV sales for 10 years and facing four consecutive years of net losses, Reuters reports some are worried that Sony CEO Kazuo Hirai is throwing money down a sinkhole by investing in medical equipment and other new sectors. Sony's finances aren't pristine--the article points out the company's cost of insuring its debt has doubled since Hirai became CEO in April. Among Sony's boldest investments under his tenure: An agreement to invest $643 million into Olympus, a Japanese maker of endoscopes and cameras that is struggling in the wake of a massive scandal. Story

Suggested Articles

Babson Diagnostics has closed its series A funding round with a total of $13.7 million and named a new CEO.

The FDA has authorized its first COVID-19 antibody test for use in doctors' offices, urgent care centers and emergency rooms.

The clinical testing giant LabCorp will now begin rolling out a blood test for lung cancer developed by Resolution Bioscience.