Report: Samsung not interested in Olympus healthcare biz

CEO of South Korean company denies interest in acquiring Olympus' healthcare business in which the Japanese firm dominates endoscope sector.
Written by Liau Yun Qing, Contributor

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.

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