Not content with dominating the smartphone market, Samsung is diving headfirst into its plans to become a major player in health care.
On Tuesday, the South Korean juggernaut announced that it had purchased the medical imaging company NeuroLogica for an undisclosed amount of money.
Known for its portable CT scanners, NeuroLogica was formed in 2004 and is expected to be a big part of Samsung's expansion into the medical industry.
"The acquisition of NeuroLogica is another important step in the expansion of Samsung's medical imaging business and is a testament to our shared vision for a better and more complete healthcare experience," said Tod Pike, senior vice president at Samsung's Enterprise Business Division. "We are committed to further strengthening our capabilities and products to help establish Samsung as a trusted leader in the health and medical equipment industry."
According to the Wall Street Journal, this is the third health-related acquisition by Samsung since 2010, when it acquired the South Korean ultrasound manufacturer Medison Co. In 2011, the company also bought Nexus, a San Diego company that makes cardiac-testing systems.
The medical equipment field has been getting pretty crowded these days, with Samsung joining the likes of Sony, Philips, General Electric, and Siemens. The last four are all banking on the health care industry to help bail them out of weakened consumer divisions.
"Why are all these companies getting into health care?" is a valid question to ask, considering their past products. But as the global population continues to age, electronics makers are hoping to find more uses for their technology outside of phones and tablets.
""Our consumer lifestyle business was margin dilutive to the group, so it was time to decide to move away from consumer electronics," said Philips CEO Frans Van Houten to the WSJ. "Since we have online entertainment, people do not buy Blu-ray and DVD players anymore.""
Samsung, of course, has one of the most successful consumer divisions in the world. Its Galaxy line-up of smartphones is the most popular in the world, and the electronics company is a strong player in television, computers, and home appliances.
Regardless, the company's stated goal is to become the largest medical equipment company by the year 2020.
Samsung faces a steep hill to climb, though, as it will have to ward off fierce competition by the likes of Sony and Philips.
"I think we are better positioned than our competitors in the health-care market because we think in solutions rather than products," said Van Houten. His quote was a direct response to Samsung's NeuroLogica purchase as well as the increasingly crowded medical tech space.
