Samsung Electronics plans to invest $1.1bn in the medical- equipment business by 2020, reported Bloomberg.com.
Along with acquisitions, Samsung also plans to increase hiring as well as R&D at its own medical-equipment business.
The South Korea-based firm bought a 43.5% controlling stake in Medison, a diagnostic ultrasound devices maker, in 2010 and increased its stake in Medison to 65.8% in April this year.
It has also acquired 100% stake in Prosonic from Consus Asset Management for 331.3bn Korean Won.
Bloomberg has quoted Samsung SVP and head of Medison’s research center Jo Jae Moon as saying that they have a lot of companies on list and have a target to be the No 1 across ultrasound devices, X-rays and MRIs.
