Samsung Eyes Stake in Medical Equipment Maker
Samsung Electronics is mulling buying a stake in medical equipment maker Medison.Samsung said Tuesday it submitted a letter of intent to JP Morgan to purchase a 40.9 percent stake in Seoul-based Medison from a private equity fund. Industry watchers see Samsung's move as an effort to strengthen its health care business. In May Samsung Group, the parent of Samsung Electronics, announced its five new growth drivers -- solar cells, rechargeable cells for hybrid-electric vehicles, LED technologies, biopharmaceuticals and medical equipment.Medison posted sales of W207.3 billion and an operating profit of W30.6 billion last year (US$1=W1,128).
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