Toshiba Medical Systems announced it is establishing a wholly owned subsidiary in South Korea next month by acquiring 70% of the stock of TI Medical Systems of Seoul, the firm's joint venture with RIS/PACS company Infinitt Healthcare, also of Seoul.
TI Medical Systems was jointly established in 2009 by Toshiba and Infinitt, Toshiba said. Since its establishment, the company has been the sole distributor of Toshiba's products in South Korea.
In its buyout of Infinitt's share and establishing a new subsidiary, Toshiba said that it expects to reinforce brand awareness and business activities, and to expand its market share in medical imaging in Korea. The medical imaging market in Korea is predicted to grow at an average rate of 10% through 2015.
