Report: Samsung not interested in Olympus healthcare biz

Report: Samsung not interested in Olympus healthcare biz

Summary: CEO of South Korean company denies interest in acquiring Olympus' healthcare business in which the Japanese firm dominates endoscope sector.

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TOPICS: IT Employment, Legal
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South Korean electronics company Samsung is not looking to acquire Olympus' healthcare business, even if the latter dominates a segment of this market.

According to a Reuters report late-Thursday, Samsung CEO Choi Gee-sung said the South Korean company was not keen on taking on Olympus' healthcare business. "We're not interested in what others are already doing very well. Samsung will do what we can do better," Choi told the news wire.

The report noted that healthcare is a new business Samsung is aiming to expand into. Despite being more recognized for its cameras, Olympus dominates the market for gastro-intestinal endoscopesis and most of its revenue comes from the healthcare industry, said Reuters.

Choi did not comment on whether Samsung will be partnering Olympus, as mooted by previous reports. A report early-Thursday by Asahi Shimbun cited sources who said at least five companies, including Sony, Panasonic, Fujifilm, Terumo and Samsung Electronics, had shown interest in becoming business partners with Olympus.

According to Asahi Shimbun, the equity tieup was an attempt by the scandal-laden Japanese company to rebuild its business and it would decide on a partner earliest by February.

Faced with an accounting scandal, Olympus was reportedly considering filing suit against former employees and executives for negligence for not discovering the 13-year coverup.

Topics: IT Employment, Legal

Liau Yun Qing

About Liau Yun Qing

The only journalist in the team without a Western name, Yun Qing hails from the mountainy Malaysian state, Sabah. She currently covers the hardware and networking beats, as well as everything else that falls into her lap, at ZDNet Asia. Her RSS feed includes tech news sites and most of the Cheezburger network. She is also a cheapskate masquerading as a group-buying addict.

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