Ultrasound developer Medison and Samsung Electronics have joined to create Samsung Medison following Samsung's acquisition last year of a controlling interesting in Medison.
Samsung Medison CEO Sang Won Bang said the combined company aims to become one of the world's top four diagnostic ultrasound firms. Samsung Medison will combine Samsung's resources, digital technology, and worldwide growth experience with Medison's technology and established market presence, according to the firm.
The company said it will continue to invest more than 10% of its annual sales in R&D, and it will expand investment in marketing strategies. Samsung said it plans to have more than 10,000 employees in its medical equipment business by 2020.
