Advantech has agreed to acquire 60% stake in South Korea-based medical display company Kostec.
The move will help Advantech to expand its operations in the medical field and business presence in South Korea, Southeast Asia, and North American markets.
Established in 2003, Kostec produces and markets medical grade LCD monitors and industrial LCD monitors.
The firm manufactures diagnostic, surgical, X-ray modality, clinical review, medical information consulting systems and ultrasound monitors. Its products are available in around 60 countries across the globe.
Kostec will market Advantech Digital Healthcare product lines in South Korea, in addition to the global support on medical displays.
Advantech CEO KC Liu said: “Though Advantech has product development capabilities and sales teams in medical nursing carts, medical tablets, and medical computing areas, we are still learning about professional-grade medical display product lines for the operating room.
“We expect to rely on Kostec’s industrial experience and professional techniques and expertise, in combination with Advantech's existing global marketing and sales teams, to expand Advantech’s position in the intelligent hospital field.”
Kostec president and CEO Oh-Sung Kwon said: “Kostec has been focusing on manufacturing medical grade displays for the past 13 years and we represent ourselves as a dedicated medical grade display provider with a full range product line-up in diagnostic monitors, surgical monitors and X-ray monitors.”
Advantech provides system integration, hardware, software, customer-centric design services for different industries. It also offers embedded systems, automation products, and global logistics support.