Medison Co., a health care unit of Samsung Electronics Co., plans to invest 1.2 trillion won (US$1.1 billion) over the next 10 years in a bid to boost its global presence, its chief said Sunday.
"Medison aims to grow as a global company by increasing sales from the current level of 300 billion won to 10 trillion won," said CEO
Bang Sang-won at a meeting with reporters at Medison's plant in Hongcheon, 102 kilometers northeast of Seoul.
Medison's ultrasound equipment will spearhead Samsung's medical equipment business, said Bang.
As part of its efforts for growth, Medison plans to double its manufacturing capacity within two years and employ some of the country's top technicians.
Samsung Electronics bought a 43.5 percent stake in Medison for 331.38 billion won to nurture its health care business.
Medison, established in 1985 as a venture firm, is the world's fifth-largest ultrasound medical equipment maker with 7 percent of the global market share.