Samsung Buys U.S. Health-Care Equipment Maker Nexus

Reuters

Samsung Electronics said late on Tuesday that it had purchased U.S. provider cardiac testing solutions provider Nexus, marking its second healthcare acquisition as the technology giant pushes into new growth areas.

South Korea's Samsung did not disclose the value of the deal to buy the U.S.-based Nexus division of ITC Nexus Holding Company (ITC).

Continue Reading Below

The purchase is seen "helping Samsung to position itself as a global leader in healthcare technology," Bang Yong-chu, vice president of Samsung Electronics' Health and Medical Equipment business team, said in a statement.

Samsung announced last year its goal to invest 1.2 trillion won ($1.1 billion) through 2020 in healthcare equipment.

In December it agreed to buy a majority stake in South Korean medical equipment maker Medison.

Samsung, which has mainly focused on organic growth, has made no major acquisitions in its 41-year history. In 2008, the company dropped an unsolicited $5.9 billion offer for U.S. flash memory card maker SanDisk Corp. ($1 = 1126.150 Korean Won) (Reporting by Hyunjoo Jin; Additional reporting by Tae-yi Kim; Editing by Jonathan Hopfner)