Samsung acquires ITC's Nexus; cardiac care systems

Samsung Electronics announced on Tuesday that it acquired ITC's Nexus division, which manufactures cardiac point-of-care testing kits that help diagnose and monitor cardiovascular diseases.

Seoul, South Korea-based Samsung sees the acquisition as a way to further invest in the medical device and biopharmaceutical sectors; meanwhile, San Diego, Calif.-based Nexus gets access to Samsung's technological expertise.

Last year, Samsung announced a goal to invest approx. $1.1 billion in healthcare equipment through 2020. Earlier this year, it purchased a controlling stake in diagnostic ultrasound manufacturer Medison.

This post was originally published on Smartplanet.com